The City of Ridgefield 2019 Proposed Budget is complete and available for review. The City’s balanced proposed budget maintains basic services and addresses community and Council goals. In addition, the budget maintains fund balance and reserve policies to ensure financial sustainability. The Proposed Budget is scheduled for City Council review during meetings in November and will be presented for the final public hearing and adoption on December 6, 2018.
The City’s budget is used as a planning and policy document estimating future City revenues and expenditures, and allocating resources to accomplish community and Council priorities. Budgeted 2019 revenues for all funds total $22.9 million and proposed expenditures for all funds total $19.7 million. The proposed budget also includes $4.36 million in one-time initiative and capital requests for new water rights, replacing aging infrastructure, new stormwater facilities, and new park and street projects.
A healthy economy and strong residential and commercial development activity are allowing the City to respond to growth and increasing demands. The addition of employees in 2019 will increase the City’s ability to maintain high service levels, enhance communication and complete much needed infrastructure improvements. The City is also proactively assuring that growth is balanced to include expanding its jobs base and attracting additional commercial development, which will assure the City’s ability to offer high quality of life, work and play options.
The City has been proactive in managing their finances since the great recession. In 2018 the City implemented a six-year budget projection for revenue and expenses. Current projections are showing City revenues will exceed expenses in each of the next six years. Nevertheless, to ensure financial stability, the City maintains fully funded reserves that meet or exceed industry standards. And, the City has implemented guidelines for both financial planning and internal financial management. As a result of these strong financial policies and conservative budget planning, the City continues to maintain its AA bond rating and a Standard & Poor’s financial management rating of “stable.”
City Council has tasked staff with becoming more efficient in daily operations as well as providing a more transparent city government that responds to citizen needs. Staff has completed several software upgrades that add efficiencies to daily tasks. And, the City has adopted a LEAN work culture to implement improvements throughout the organization that provide less expensive alternatives and process efficiencies.
A letter from Steve Stuart, City Manager, provides an overview of the budget.