OFFICE OF THE MAYOR
Honorable Riverton City Councilmembers and Residents: It is after extensive consultation with city staff, a review of our long‐range and strategic plans, and identifying multiple cost‐reducing proposals that I am prepared to submit to you the fiscal year 2022 Mayor’s Budget for your consideration. The last fiscal year has come with considerable challenges and headwinds due to the global pandemic, resulting in stalled development and decreased revenue. Further, recently commissioned rate studies have come back with substantial rate increase recommendations for our culinary and secondary water funds. Additionally, new state requirements for secondary water metering have put new pressures on the budget. I am happy to report that our residents, businesses, and this government have demonstrated an incredible resiliency in the face of these challenges with improving physical and economic health. Our city maintains a AAA credit rating. Sales tax revenues have grown by 56% since 2016, approaching almost $9.2 million. With a clear mission statement and strategic plan that prioritizes continuous innovation and improvement, the city has undergone an extensive reorganization effort that along with some planned retirements has resulted in a net reduction of 6.5 employees, saving nearly $1 million. Our incredible employees that number 160 full time equivalents (FTEs), represents 3.49 FTEs per 1000 in population – the lowest count compared to any city in the region. Remarkably, our year over year budgeted general fund expenditures, which in my opinion is the best barometer of the fiscal discipline of a city, is down from $11.8 million to $11.5 million! These positive developments have created an opportunity to innovate and save residents money. In this budget I am proposing that all stormwater operational costs be rolled into our general fund and use the projected $5 per month savings for our residents to shore up our water and sanitation funds. Given the prospect for sales tax revenue increases, with the addition of more retail development, and the potential for additional savings from projects described below, I believe our enterprise funds can operate with these proposed rates for some time. Here are a few of the other highlights for this budget proposal:
Total budgeted expenditures, excluding transfers and additions to fund balance are $51 million, compared to last year’s total budget of $59 million. The American Rescue Plan funding from the federal government will send approximately $5 million to Riverton, with half that amount expected in this fiscal year. Given the legislation considers investments in water, sewer, and broadband infrastructure as allowable uses, I have proposed spending $1.2 million of that amount this year to secure a city owned fiber backbone infrastructure. Not only will this save the city nearly $100 thousand in annual expenditures, but it will also improve connectivity to city assets, and set up the possibility of providing an open access network to all residents and businesses that can improve costs and availability.
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