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Riverview budget review warns of gap if one-time transfers and a major tax contingent disappear
Summary
City staff told the Riverview City Council the general fund is currently healthy (about $3.7 million, ~26%) but will face a gap if prior operating transfers and a large Riverview Energy Systems tax contingent are removed; five-year projections and ballot options were discussed.
Riverview City Council received an overview of the city's general fund budget that stressed near-term stability but warned of a potential multi-year shortfall if recent one-time transfers and a large taxpayer's tax contingent are not replaced.
Finance staff said revenues this year are roughly $295,000 higher than last year while general fund expenditures are up about $297,000, a 2.12% change overall. The city's fund balance is…
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