HomeMy WebLinkAboutR-2025-041 Third Amendment to the 2024-2025 Annual Budget RESOLUTION NO. R-2025-041
A RESOLUTION FOR THE THIRD AMENDMENT TO THE FISCAL YEAR 2024-2025 ANNUAL
BUDGET FOR THE CITY OF RIVERSIDE, MISSOURI.
WHEREAS, the Board of Aldermen adopted a fiscal year budget that begins on July 1,
2024 and ends on June 30, 2025; and
WHEREAS, establishment of a Horizons Special Infrastructure Fund is required, and
revenues and expenditures beyond those anticipated in the budget will be incurred; and
WHEREAS, expenditures beyond those anticipated in the General Fund for the
community YMCA memberships and associated fees will be incurred; and
WHEREAS, expenditures beyond those anticipated in the Capital Equipment Fund for the
purchase of equipment will be incurred; and
WHEREAS, expenditures beyond those anticipated in the Community Development Fund
for the purchase of land will be incurred; and
WHEREAS, transfers from the General Fund to the Capital Equipment Fund for the
purchase of equipment will be incurred; and
WHEREAS, transfers from the General Fund to the Community Development Fund for the
purchase of land will be incurred; and
WHEREAS, transfers from the General Fund to the Bond Fund are required to support
police bond activities; and
WHEREAS,the Finance Director, in consultation with city staff, the City Administrator, and
the Mayor and Board of Aldermen, have prepared a proposed amendment for Fiscal Year 2024-
2025 and submitted it to the Board of Aldermen, in accordance with Chapter 67 of the Missouri
Revised Statutes; and
WHEREAS, the Board of Aldermen has studied, examined, and discussed the proposed
budget in public meetings and amended the proposed budget with such revisions, alterations,
increases or decreases as the Board deems advisable; and
WHEREAS, the total expenditures from the various funds in the proposed budget, as
amended by the Board of Aldermen, do not exceed the estimated revenues to be received plus
any unencumbered balances, as required by Chapter 67 of the Missouri Revised Statutes; and
WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City
of Riverside to amend the Fiscal Year 2024-2025 Budget attached hereto and made a part hereof
by reference;
RESOLUTION NO. R-2025-041
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN FOR THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
THAT the Annual Budget for the Fiscal Year 2024-2025 is hereby approved and amended
authorizing and appropriating expenditures and transfers in the amount of $77,597,567 as set
forth in Exhibit A and Exhibit B attached hereto and incorporated herein.
FURTHER THAT said budget includes the following information:
a. A budget message, describing the important features of the budget and major changes
from the preceding year;
b. Estimated revenues to be received from all sources for the budget year, with a
comparative statement of actual or estimated revenues for the two years next
preceding, itemized by year, fund, and source;
c. Proposed expenditures for each department, office, commission, and other
classification for the budget year, together with a comparative statement of actual or
estimated expenditures for the two years next preceding, itemized by year, fund,
activity, and object;
c. The amount required for the payment of interest, amortization, and redemption
charges on the debt of the political subdivision; and
e. A general budget summary.
PASSED AND ADOPTED by the Board of Aldermen of the City of Riverside, Missouri the
1st day of April 2025.
Mayor Kathleen L.Rose
ATTEST:
Robin Kincaid,.City Clerk
EXHIBIT A
FY 2024-25 Budget Amendment 3
FY 2025 FY 2025
Description Amended Change Amended
Budget Budget
Capital Equipment Fund (30)
Public Works Equipment $ 442,000 $ 185,000 $ 627,000
Transfers From GF $ 300,000 $ 185,000 $ 485,000
Community Development Fund (22)
Land Acquisitions $ 2,100,000 $ 1,700,000 $ 3,800,000
Transfers From GF $ 901,500 $ 1,700,000 $ 2,601,500
Horizons Special Infrastructure Fund (23)
Receipts from MDFB $ - $20,000,000 $ 20,000,000
Disbursements to LiveNation $ - $20,000,000 $ 20,000,000
Bond Fund (80)
Transfers From GF $ - $ 10,000 $ 10,000
General Fund (10)
Community Center-YMCA Support Fee $ 77,000 $ 17,000 $ 94,000
Community Center-YMCA Memberships $ 260,000 $ 36,000 $ 296,000
Transfers to Capital Equipment Fund $ 300,000 $ 185,000 $ 485,000
Transfers to Community Development Fund $ 901,500 $ 1,700,000 $ 2,601,500
Transfers to Bond Fund $ - $ 10,000 $ 10,000
Fiscal Year 2025 Operating and Capital Budget
Fiscal Year 2025 Operating and Capital Budget-Amendment 3
Capital Community Capital Equip. Debt Service PSST Tourism Tax FPAL Other Total
General Fund Improvement Fund Develop.Fund Fund Fund Fund Fund Fund Funds All Funds
6/30/24 Balance(Est) $ 27,736,406 $ 1,539,571 $ 1,237,405 $ 228,848 $ 1,620,523 $ 753,521 $ 777,594 $ 109,353 $ 86,907 $ 34,090,128
Revenues
Permits&Licenses $ 183,300 $ 183,300
Fees,Fines&Forfeitures $ 161,500 $ 161,500
Taxes $ 4,190,000 $ 965,000 $ 130,000 $ 5,285,000
Investment Income $ 850,000 $ 250,000 $ 1,100,000
Misc.Revenue $ 261,068 $ 20,000,000 $ 20,261,068
Assigned Income $ 2,620,000 $ 105,000 $ 7,550,000 $ 51,000 $ 7,000 $ 10,333,000
Missouri Gaming $ 5,500,000 $ 5,500,000
Real Estate Income $ 4,250,000 $ 4,250,000
Soccer Lease/Ch.100 $ 900,000 $ 900,000
Sale of Land Proceeds $ 3,600,000 $ 3,600,000
Sale of Assets/Equipment $ 70,000 $ 10,000 $ 10,000 $ 90,000
Subtotal $ 19,965,868 $ 2,630,000 $ 105,000 $ 10,000 $ 7,800,000 $ 965,000 $ 130,000 $ 51,000 $ 20,007,000 $ 51,663,868
Transfers From Other Funds $ 4,500,000 $ 12,119,000 $ 931,500 $ 485,000 $ - $ - $ - $ - $ 10,000 $ 18,045,500
Total Revenue $ 24,465,868 $ 14,749,000 $ 1,036,500 $ 495,000 $ 7,800,000 $ 965,000 $ 130,000 $ 51,000 $ 20,017,000 $ 69,709,368
Available Funds $ 52,202,274 $ 16,288,571 $ 2,273,905 $ 723,848 $ 9,420,523 $ 1,718,521 $ 907,594 $ 160,353 $ 20,103,907 $ 103,799,496
Expenditures
Elected Officials $ 95,434 $ 95,434
Administration $ 2,133,028 $ 68,000 $ 8,000 $ 2,209,028
Human Resources $ 164,670 $ 164,670
Municipal Court $ 230,620 $ 230,620
Police Admin $ 558,520 $ 558,520
Police Operations $ 4,205,166 $ 55,120 $ 25,000 $ 4,285,286
Police Dispatch $ 1,199,787 $ 1,199,787
Fire $ 2,717,911 $ 2,717,911
Public Works $ 1,785,383 $ 627,000 $ 2,412,383
Engineering $ 433,638 $ 433,638
Building Maintenance $ 389,600 $ 389,600
Parks $ 369,200 $ 369,200
Community Center $ 595,938 $ 15,000 $ 610,938
Community Development $ 787,153 $ 2,200,000 $ 1,900,000 $ 260,000 $ 5,147,153
Capital Project Expenditures $ 14,869,000 $ 1,076,400 $ 20,000,000 $ 35,945,400
Debt Service $ 2,782,500 $ 2,782,500
Subtotal $ 15,666,047 $ 14,869,000 $ 2,200,000 $ 710,000 $ 4,690,500 $ 1,076,400 $ 260,000 $ 55,120 $ 20,025,000 $ 59,552,067
Transfers To Other Funds $ 13,545,500 $ - $ - $ - $ 4,500,000 $ - $ - $ - $ - $ 18,045,500
Total Expenditures&Transfers $ 29,211,547 $ 14,869,000 $ 2,200,000 $ 710,000 $ 9,190,500 $ 1,076,400 $ 260,000 $ 55,120 $ 20,025,000 $ 77,597,567
6/30/25 Fund Balance $ 22,990,727 $ 1,419,571 $ 73,905 $ 13,848 $ 230,023 $ 642,121 $ 647,594 $ 105,233 $ 78,907 $ 26,201,928