Moreno Valley has approved a two-year balanced budget in June of this year. Despite continued takeaways of local funds by the State and increased costs for services provided by Riverside County the budget is fully balanced. It represents ongoing investments in the city’s future while maintaining the award-winning sound fiscal stewardship and conservative responsible legal safeguards, which have marked Moreno Valley as one of the most fiscally fit cities in the Nation.
The adopted General Fund budget for 2019/2020 totals $112.9 million and the overall budget exceeds $256 million. The spending plan includes $32.4 million in capital improvements to ensure the repair and replacement of aging local infrastructure within our current financial capabilities.
This budget is based on the principles of Momentum MoVal, a strategic plan developed by the City Council to ensure that community priorities are reflected in planning decisions. The city will continue active outreach to assess community priorities into the future.
While Moreno Valley’s fiscal position remains strong, the city is keeping a watchful eye on areas of concern such as the potential for slower economic growth and increased costs for public safety services provided by Riverside County. As the city continues to add residents, infrastructure and service needs will also grow as new facilities and roadways are constructed to meet community needs.
“The city’s tradition of sound fiscal management has allowed us to manage through prior tough times and provides us with a strong foundation. This coming year we face a turning point as we focus on strategies to keep us on firm fiscal footing and continue to lay the groundwork for a bright and sustainable fiscal future,” said Mayor Yxstian A. Gutierrez.
Through financial management, the city will continue to focus on financial stability and community quality of life, despite state and federal policies that potentially affect the funding Moreno Valley and other California cities receive.
While the continued State takeaways and cost increases imposed by the County can limit the city’s ongoing ability to sustain services and programs, the current budget effectively preserves services that are high priorities for Moreno Valley residents.