IE Business Daily Business news for the Inland Empire.
Riverside has received the Excellence in Budgeting Award from the California Society of Municipal Finance Officers, a statewide organization that promotes best practices among government finance professionals.
The award acknowledged the city’s work on its 2016-’18 biennial budget, which the city council approved in June, according to a statement.
The document covers the next two fiscal years and establishes a blueprint for Riverside’s financial practices during that time. The two-year budget, along with the city’s five-year financial plan, “transformed the way Riverside handles its financial planning,” according to the statement.
This is the first time Riverside has received the award.
“Our budgeting process has evolved in a very dramatic way during the past year,” Councilman Mike Gardner said in the statement. “We now have a much broader scope when looking at our options for utilizing the city’s funds in the most responsible way.
