HomeMy WebLinkAboutR-2025-090 Adopting Fiscal Year 2025-2026 Annual Budget RESOLUTION NO. R-2025-090
A RESOLUTION ADOPTING THE FISCAL YEAR 2025-2026 ANNUAL BUDGET FOR
THE CITY OF RIVERSIDE, MISSOURI.
WHEREAS, the Board of Aldermen adopted a fiscal year that begins on July 1 of each
year and ends on June 30 of the following year; and
WHEREAS, the Finance Director, in consultation with city staff, the City Administrator, and
the Mayor and Board of Aldermen, have prepared a proposed budget for Fiscal Year 2025-2026
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 adopt the Fiscal Year 2025-2026 Budget attached hereto and made a part hereof
by reference;
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 2025-2026 is hereby approved and adopted
authorizing and appropriating expenditures and transfers in the amount of $79,161,993 as set
forth in Exhibit A 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
RESOLUTION NO. R-2025-090
e. A general budget summary.
PASSED AND ADOPTED by the Board of Aldermen of the City of Riverside, Missouri,
the 17th day of June 2025.
Mayor Kathleen L. Rose
ATTEST:
Robin Kincaid, City Clerk
EXHIBIT A
Fiscal Year 2026 Operating and Capital Budget
Capital Community Capital Equip. Debt Service PSST Tourism Tax FPAL Horizons Other Total
General Fund Improvement Fund Develop.Fund Fund Fund Fund Fund Fund SIF Funds All Funds
6/30/25 Balance(Est) $ 35,768,833 $ 765,074 $ 156,388 $ 377,835 $ 655,998 $ 1,484,525 $ 790,026 $ 121,357 $ - $ 93,066 $ 40,213,101
Revenues
Permits&Licenses $ 187,900 $ 187,900
Fees,Fines&Forfeitures $ 194,000 $ 194,000
Taxes $ 4,592,500 $ 1,000,000 $ 180,000 $ 5,772,500
Investment Income $ 950,000 $ 170,000 $ 1,120,000
Misc.Revenue $ 216,665 $ 216,665
Assigned Income $ - $ 8,127,872 $ 182,000 $ 7,050,000 $ 50,150 $ 8,453,970 $ 85,500 $ 23,949,492
Missouri Gaming $ 5,550,000 $ 5,550,000
Real Estate Income $ 4,300,000 $ 4,300,000
Soccer Lease/Ch.100 $ 723,189 $ 723,189
Sale of Land Proceeds $ 1,500,030 $ 1,500,000
Sale of Assets/Equipment $ 30,000 $ 10,000 $ 30,000 $ 70,000
Subtotal $ 18,244,254 $ 8,137,872 $ 182,000 $ 30,000 $ 7,220,000 $ 1,000,000 $ 180,000 $ 50,150 $ 8,453,970 $ 85,500 $ 43,583,746
Transfers From Other Funds $ 5,000,000 $ 16,260,000 $ 800,000 $ 300,000 $ - $ - $ - $ - $ - $ - $ 22,360,000
Total Revenue $ 23,244,254 $ 24,397,872 $ 982,000 $ 330,000 $ 7,220,000 $ 1,000,000 $ 180,000 $ 50,150 $ 8,453,970 $ 85,500 $ 65,943,746
Available Funds $ 59,013,087 $ 25,162,946 $ 1,138,388 $ 707,835 $ 7,875,998 $ 2,484,525 $ 970,026 $ 171,507 $ 8,453,970 $ 178,566 $ 106,156,848
Expenditures
Elected Officials $ 96,115 $ 96,115
Administration $ 2,341,661 $ 24,800 $ 8,000 $ 2,374,461
Human Resources $ 150,700 $ 150,700
Municipal Court $ 247,538 $ 247,538
Police Admin $ 538,367 $ 538,367
Police Operations $ 4,470,779 _ $ 67,500 $ 100,000 $ 4,638,279
Police Dispatch $ 1,254,568 $ 1,254,568
Fire $ 3,049,814 $ 3,049,814
Public Works $ 1,896,006 $ 632,000 $ 2,528,006
Engineering $ 466,478 $ 9,000 $ 475,478
Building Maintenance $ 396,100 $ 396,100
Parks $ 369,200 $ 369,200
Community Center $ 592,132 $ 20,000 $ 612,132
Community Development $ 861,035 $ 1,100,000 $ 17,430 $ 2,100,000 $ 385,000 _ $ 4,463,465
Capital Project Expenditures $ 25,162,500 $ 1,990,800 $ 8,453,970 $ 35,607,270
Debt Service $ -
Subtotal $ 16,730,493 $ 25,162,500 $ 1,100,000 $ 703,230 $ 2,108,000 $ 1,990,800 $ 385,000 $ 67,500 $ 8,453,970 $ 100,000 $ 56,801,493
Transfers To Other Funds $ 17,360,000 $ - $ - $ - $ 5,000,000 $ - $ - $ - $ - $ - $ 22,360,000
Total Expenditures&Transfers $ 34,090,493 $ 25,162,500 $ 1,100,000 $ 703,230 $ 7,108,000 $ 1,990,800 $ 385,000 $ 67,500 $ 8,453,970 $ 100,000 $ 79,161,493
6/30/26 Fund Balance $ 24,922,594 $ 446 $ 38,388 $ 4,605 $ 767,998 $ 493,725 $ 585,026 $ 104,007 $ - $ 78,566 $ 26,995,354