Biennial Budget for Fiscal Years 2021-2023 Approved
During the City Council meeting held on June 8, the City’s Fiscal Year 2021-23 Operating Budget and Five-Year Capital Improvement Plan was approved. The goal in building this budget has consistently been to present a balanced spending plan, one where ongoing revenues match (or exceed) ongoing expenditures. The presented budget demonstrates the City’s continued commitment to ensuring optimal service delivery to our resilient community, fiscal sustainability and a major focus on maintaining long-term financial stability.
The Biennial Budget is a road map for anticipated future revenue and planned expenditures, allocating resources and reflecting the City Council’s priorities and policies for the upcoming two fiscal years. All departments were asked to build lean, cost-effective expenditure budgets that could take the City through the next two fiscal years, using the following concepts in structuring this two-year plan:
» Live within our existing revenue streams;
» One-time monies should only be used for one-time costs;
» Increase services in priority areas only when needed and when sustainable funding is secured.
Expenditures have been developed with a “zero-based budget” approach. City-wide, each department built its budget from the ground up, starting from zero.
Adopted/Approved Budget by the Numbers:
Fiscal Year 2021-2022
» $110,369,525 in total revenues
» $150,002,747 in total expenditures
(General Fund – $45,433,640 in
revenues and $45,433,640 in
expenditures)
Fiscal Year 2022-2023
» $93,879,870 in total revenues
» $104,376,168 in total expenditures
(General Fund – $47,806,415 in revenues and $47,806,415 in expenditures)
This adopted budget provides funding for public safety (Los Angeles County Sheriffs), park maintenance, community services programming, economic development efforts, street repair and maintenance, infrastructure upgrades, information technology services, housing support programs, and a host of internal support services such as payroll, human resources and accounting.
Five Year Capital Improvement Program
The Capital Improvement Program (CIP) is a long-range fiscal forecast, which identifies major public improvements to the City’s infrastructure over the next five years. The City’s five-year CIP plan encompasses bridge and roadway improvements, traffic safety, parks and facilities projects, water, sewer and storm drain projects, special projects and other large-scale capital projects. This proposed five-year CIP plan has been developed in accordance with the recommendations set forth in the master plans completed over the last year, including water, sewer, storm drain, Americans with Disabilities Act (ADA) and Pavement Management System (to assess the pavement condition of our streets). The total CIP plan for the five-year period, Fiscal Years 2021-26 is $187,594,709. Of this amount, $114,468,354 represents continuing project budgets, and $73,126,355 in new project funding being requested for FY 2021-22. The FY 2021-23 Budget was constructed with the goal of ensuring financial sustainability in order to strategically position the City to execute on its 21st Century Vision of a sustainable, equitable and vibrant community in which to live and work. The budget is available at pico-rivera.org.
