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City of Arts &Innovation
<br />City Council Memorandum
<br />IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII11111111111111111111111111111111111
<br />TO: HONORABLE MAYOR AND CITY COUNCIL
<br />FROM: FINANCE DEPARTMENT
<br />DATE: JUNE 12, 2018
<br />WARDS: ALL
<br />SUBJECT: PUBLIC HEARING; RESOLUTION - ADOPTION OF THE FISCAL YEAR 2018-
<br />2020 TWO-YEAR BUDGET; RESOLUTION — MASTER FEES AND CHARGES
<br />SCHEDULE; DELEGATION OF INVESTMENT AUTHORITY; BUDGET
<br />ENGAGEMENT COMMISSION MEASURE Z RECOMMENDATIONS; AND
<br />FINANCE COMMITTEE CALPERS DISCUSSION
<br />ISSUES:
<br />Conduct a public hearing on the Proposed Fiscal Year 2018-2020 Two -Year Budget; Adopt a
<br />resolution approving the Fiscal Year 2018-2020 Two -Year Budget; Adopt a resolution approving
<br />the Master Fees and Charges Schedule; and delegate investment authority to the Chief
<br />Financial Officer/Treasurer.
<br />RECOMMENDATION:
<br />That the City Council:
<br />1. Conduct a public hearing on the City of Riverside's Proposed Fiscal Year 2018-2020 Two -
<br />Year Budget and Fiscal Year 2018-2020 Capital Improvement Program Budget;
<br />2. Adopt the attached resolution (Attachment 1) approving the Fiscal Year 2018-2020 Two -
<br />Year Budget (Attachment 1A) for the City of Riverside totaling $1,078,045,863 in Fiscal
<br />Year 2018/19 and $1,114,093,012 in Fiscal Year 2019/20 across all funds as amended
<br />by the budget adjustments reflected in Attachment 2;
<br />3. Delegate investment responsibility to the City Chief Financial Officer/Treasurer beginning
<br />July 1, 2018 through June 30, 2019;
<br />4. Adopt the attached resolution (Attachment 6) approving the revised Master Fees and
<br />Charges Schedule (Attachment 6A) and authorize the Chief Financial Officer/Treasurer
<br />to make any minor non -substantive changes to the schedule categories that do not affect
<br />the fees;
<br />5. Direct staff to report to the Finance Committee on the City CaIPERS cost projections and
<br />to begin discussions on the development of a plan to address the City's rising CaIPERS
<br />costs.
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