HomeMy WebLinkAboutR-2026-075 Adopting Fiscal Year 2026-2027 Annual BudgetRESOLUTION NO. R-2026-075
A RESOLUTION ADOPTING THE FISCAL YEAR 2026-2027 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 2026-2027 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 2026-2027 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 2026-2027 is hereby approved and
adopted authorizing and appropriating expenditures and transfers in the amount of
$72,767,082, 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
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RESOLUTION NO. R-2026-075
e. A general budget summary.
FURTHER THAT the Board of Aldermen hereby determines that no funds are
appropriated in Fiscal Year 2026-2027 for services provided pursuant to Quote No.
000730 v6, the General Terms and Conditions, the Cloud Terms and Conditions, and
related addendums approved by Resolution No. R-2024-103 between the City of
Riverside and Towner Communications, and City staff are authorized and directed to
provide notice of such non-appropriation and to take such actions as may be necessary
to transition the affected services.
PASSED AND ADOPTED by the Board of Aldermen of the City of Riverside,
Missouri, the 16th day of June 2026.
/s/ Kathleen L. Rose
Kathleen L. Rose, Mayor
ATTEST:
/s/ Melissa McChesney
Melissa McChesney, City Clerk
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Fiscal Year 2027 Operating & Capital Budget
General Fund | Capital Improvement Fund | Community Develop. Fund | Capital Equip. Fund | TIF Service Fund | PSST Fund | Tourism Tax Fund | FPAL Fund | Other Funds | Total
6/30/26 Balance (Est) $ 26,836,453 $ 4,838,325 $ 21,578 $ 62,420 1,182,298 $ 25 ,195 $ 34,517 127,519 66,888 $ 33,195,193
Revenues
Permits & Licenses $ 196,200 - - - - - - - - $ 196,200
Fees, Fines & Forfeitures $ 257,000 - - - - - - - - $ 257,000
Taxes $ 5,775,000 - - - - $ 2,035,330 $ 150,000- - $ 7,960,330
Investment Income $ 1,200,000 - - - $ 50,000 - - - - $ 1,250,000
Misc. Revenue $ 2,017,836 - - - - $ 35,000 - - - $ 2,052,836
Assigned Income - $ 7,304,422 $ 99,600 - $ 7,900,000 - - $50,000 $ 10,000 $ 15,364,022
Missouri Gaming $ 5,550,000 - - - - - - - - $ 5,550,000
Real Estate Income $ 4,300,000 - - - - - - - - $ 4,300,000
Soccer Lease/ Ch. 100 $ 262 ,800 - - - - - - - - $ 262,800
Sale of Land Proceeds $ 1,600,000 - - - - - - - - $ 1,600,000
Sale of Assets/ Equipment $ 5,000 - $10,000 $100,000 - - - - - $ 115,000
Subtotal $ 21,163,836 $ 7,314,422 $ 99,600 $ 100,000 $ 7,950,000 $ 2,070,330 $ 150,000 $ 50,000 $ 10,000 $ 38,908,188
Transfers From Other Funds $ 7,000,000 $ 14,000,000 $ 131,500 $ 525,000 - $ $ 225,000 $- $- $- $21,881,500
Total Revenue $ 28,163,836 $ 21,314,422 $ 231,100 $ 625,000 $ 7,950,000 $ 2,295,330 $ 150,000 $ 50,000 $ 10,000 $ 60,789,688
Available Funds $ 55,000,289 $ 26,152,747 $ 252,678 $ 687,420 $ 9,132,298 $ 2,320,525 $ 184,517 $ 177,519 $ 76,888 $ 93,984,881
Expenditures
Elected Officials $ 94,257 - - - - - - - - $ 94,257
Administration $ 2,782,263 - - $ 24,800 $ 8,000 - - - - $ 2,815,063
Human Resources $ 161,000 - - - - - - - - $ 161,000
Information Technology $ 687,200 - - - - - - - - $ 687 ,200
Municipal Court $ 342,688 - - - - - - - - $ 342,688
Police Admin $ 571,724 - - - - - - - - $ 571,724
Police Operations $ 5,727,889 - - - - $255,723 -$100,000 $ 60,000 $ 6,143,612
Police Dispatch $ 1,290,327 - - - - - - - - $ 1,290,327
Fire $ 3,023,326 535,000 - - - - - - - - $ 3,558,326
Public Works $ 2,432,438 - - $536,000 - - - - - $ 2,968,438
Building Maintenance $ 401,100 - - - - - - - - $ 401,100
Parks $ 389,200 - - - - - - - - $ 389,200
Community Center $ 651,792 - - $ 20,000 - - - - - $ 671,792
Community Development $ 878,555 - $ 100,000 $ 7,000 $2,060,000 - $150,000 - - $ 3,195,555
Capital Project Expenditures - $ 26,068,000 - - - $1,527,300 - - - $ 27,595,300
Debt Service - - - - $- - - - - $-
Subtotal $ 19,433,759 $ 26,068,000 $ 100,000 587,800 $ 2,068,000 $ 2,318,023 $ 150,000 $ 100,000 $ 60,000 $ 50,885,582
Transfers To Other Funds $ 14,881,500 $- $- $- $ 7,000,000 $- $- $- $ 21,881,500
Total Expenditures & Transfers $ 34,315,259 $ 26,068,000 s 100,000 $ 587,800 $ 9,068,000 $ 2,318,023 $ 150,000 $ 100,000 $ 60,000 $ 72,767,082
6/30/27 Fund Balance $ 20,685,030 $ 84,747 $ 152,678 $ 99,620 $ 64,298 $ 2,502 $ 34,517 $ 77,519 $ 16,888 $ 21,217,799