Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Deputy director Jones says Riverdale Park’s fund balance is a safety cushion, not spare cash
Summary
Deputy Director Jones presented the town’s FY27 fund-balance outlook, saying the reserves exist to stabilize operations and that updated projections raise the general fund to about $4.03 million; council asked whether recent storm costs would be covered and staff said storm response is paid from the general fund and is not expected to exceed budgets.
Deputy Director Jones presented the town’s fiscal-year 2027 fund-balance projections and framed fund balance as the municipality’s operating cushion rather than “extra money.” Jones told the council the fund balance "is not excess or unused money" and exists to protect day-to-day operations, respond to emergencies and preserve service stability.
The presentation summarized transfers made from the operating fund this year, including roughly $147,000 to operations, $1,140,000 to capital improvements, $323,000 to debt service, $179,000 to economic development and $50,000 to health and wellness programs. Jones said the town follows GFOA guidance and currently exceeds the two-month operating reserve benchmark: with a $11,000,727 budget, a two-month reserve target would be about $1,958,000 while the town’s current unrestricted balance is approximately $3,600,000.
Council members asked whether storm-response costs would be borne locally or by other jurisdictions. Jones and staff said storm maintenance and emergency response come out of the general fund operating budget and are funded locally. Jones said staff do not expect a single storm to push the town over budget: "Not at this point. I don't think it will exceed. We typically always have more than enough allocated every year."
Jones also explained that staff updated the initial general-fund projection (previously ~ $3.6 million) to $4,027,000 after identifying about $400,000 in additional net revenue. Council members noted that excess reserves are rolled into future-year projections and used to fund capital projects or economic development transfers.
The next step in the budget process is for staff to incorporate year-end performance and return with the formal FY27 budget documents at the legislative meeting schedule and public hearings in April.
