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Riverside receives midyear financial update; council moves to continue Riverwalk Vista accounting cleanup
Summary
Deputy finance director Sergio Aguilar told the council the city maintains strong reserves (about $238 million total general-fund reserves) and recommended midyear revenue and expenditure adjustments; council amended the midyear item to continue an old Riverwalk Vista accounting cleanup and approved the adjusted package unanimously.
Deputy Finance Director Sergio Aguilar presented Riverside's fiscal-year 2025–26 second-quarter update on April 14, reporting strong reserves and recommending targeted midyear revenue and expenditure adjustments.
At a high level, Aguilar said the city maintains approximately $238 million in total general-fund reserves and recommended net general-fund revenue adjustments of about $4.57 million alongside roughly $3.4 million in expenditure adjustments and several supplemental appropriations. He also recommended…
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