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Riverside reports small fiscal gains, approves $44.9 million in carryovers
Summary
City staff told the council the unaudited FY24‑25 results left a $9.56 million unassigned general fund balance; council unanimously approved $44.88 million in recommended carryovers and minor FY25‑26 budget adjustments after questions about reserves and audit processes.
Riverside officials on Jan. 13 told the City Council the unaudited fiscal year 2024–25 results show modest gains but lingering uncertainty, and the council voted unanimously to approve nearly $45 million in carryovers to the next budget cycle.
Deputy Finance Director Sergio Aguilara said the city ended the year with general fund revenues about 1.4% above revised projections and expenditures about 1.6% below, producing a $9,560,000 unassigned General Fund reserve available for upcoming budget planning. “Overall, the City did conclude the fiscal year in a very strong fiscal position,” Aguilara said in his presentation, while also flagging personnel and pension cost pressures that could…
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