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W A T E R E N E R G Y L I F E <br />RIVERSIDE PUBLIC UTILITIES <br />• ' Board Memorandum <br />P U B L I C U T I L I T I E S <br />BOARD OF PUBLIC UTILITIES <br />DATE: JULY 26, 2021 <br />SUBJECT: APPROVAL OF UPDATED RIVERSIDE PUBLIC UTILITIES CASH RESERVE <br />POLICY <br />ISSUE: <br />Consider recommending that the City Council approve the updated Riverside Public Utilities Cash <br />Reserve Policy. <br />RECOMMENDATION: <br />That the Board of Public Utilities recommend the City Council approve the updated Riverside <br />Public Utilities Cash Reserve Policy. <br />CUSTOMER RELATIONS/FINANCE COMMITTEE RECOMMENDATION: <br />On June 21, 2021, the Board of Public Utilities Customer Relations/Finance Committee, with two <br />members present and one members absent, unanimously voted to recommend the Board of <br />Public Utilities forward a recommendation to the City Council to approve the updated Riverside <br />Public Utilities Cash Reserve Policy. <br />STRATEGIC PLAN 2025 <br />On September 15, 2020, the City Council gave preliminary approval of the Riverside 2025 Vision <br />Statement, Cross -Cutting Threads, Strategic Priorities, Indicators and Goals for the Envision <br />Riverside 2025 Strategic Plan. The final Strategic Plan was approved by the City Council on <br />October 20, 2020 and can be located online at https://www.riversideca.qov/citymanager/strategic- <br />plan-2025. <br />RPU's Fiscal Policies are aligned with the City Council's Strategic Plan 2025 Cross -Cutting <br />Thread of: <br />Fiscal Responsibility - Riverside is a prudent steward of public funds and ensures <br />responsible management of the City's financial resources while providing quality public <br />services to all. <br />Sustainably and Resiliency - Riverside is committed to meeting the needs of the present <br />without compromising the needs of the future and ensuring the City's capacity to persevere, <br />