5-Year CIP Budget also approved by Council
The Pico Rivera City Council has adopted the City budget for Fiscal Year 2022-23, year 2 of the City’s Biennial Operating Budget, and the City’s Five-Year Capital Improvement Program (CIP) Budget.
The City’s General Fund Budget is balanced at $51.83 million in revenues and expenditures. The Operating Budget demonstrated the City’s continued commitment to ensuring optimal service delivery to our resilient community, fiscal sustainability, and a major focus on maintaining long-term financial stability.
The General Fund Budget projects ongoing revenues to rebound by approximately 4% to 16% when compared to last Fiscal Year’s amended budget. This is mostly attributed to the rebounding of the City’s major revenue categories, Sales Tax and Property Tax. The General
Fund Expenditures include restoration of service costs as the City transitions to a full re-opening. Expenditures have been developed to include ongoing obligations for salaries and benefits and maintenance and operations costs supporting City services.
The budget presented demonstrated the City’s continued commitment to ensuring optimal service delivery to our resilient community, fiscal sustainability, and a major focus on maintaining long-term financial stability.
As the second year of the Biennial Operating Budget passed, the City’s Five-Year Capital Improvement Program budget was also passed this past Summer.
The Five-Year Capital Improvement Program is a long-range fiscal forecast, which identified major public improvements to the City’s infrastructure over the next five years.
The CIP encompasses improvements for streets, bridges, and roadways, parks and open spaces, storm water quality, water production, treatment and delivery, sanitary sewer, City buildings and other facilities, Americans with Disabilities Act (ADA) improvements, and other large-scale capital projects.
The total CIP budget for the five-year period, Fiscal Years 2022-27, is $248 million, $69 million represents appropriations being carried over from the last fiscal year.
The City has identified several projects to be budgeted under the Five-Year Capital Improvement Program that will begin soon or are already in progress. These City-Wide CIP projects include; Rosemead Blvd Median and Parkway Beautification Project & Major Corridors Median and Parkway Beautification Project, PFAS Water Treatment Project, a new Water Metering System for the Pico Rivera Water Authority, Water Main
Replacements, Residential Resurfacing, Pico Rivera Regional Bikeway Project, and the Passons Active Depot (PAD) Park Development.
“The budget is very complex and our staff has done an incredible job ensuring we are not spending beyond our means while providing quality service to our residents,” said City Manager Steve Carmona. “Our Capital Improvement Project and Budget show our commitment to protecting and improving our current infrastructure in order to provide a higher quality of life for our residents.”
The ultimate goal of any budget process is to produce a sound and sustainable budget plan each fiscal year. The long-term goal is to ensure a financially secure future for the City of Pico Rivera and to focus on long-term financial security that will help the City weather future recessions and other economic downturns.
A copy of the City’s Budget, including a Budget in Brief document, is available for viewing online at picorivera.org.