While it stands to reason that the City of Menifee’s first biennial (two-year) budget would be the young city’s largest, it would still be so, if split in half.
According to the city, it “reflects a cautiously optimistic financial outlook, with steadily increasing revenues against the backdrop of an overall uncertain national and local economy.”
The budget priorities are identified as public safety, continuing to invest in the city’s fledgling police department. “Our goal is to make Menifee one of the safest cities in the nation,” said Councilmember Lesa Sobek.
And capital improvements are targeted to receive over $700 million in the next two years, with 191 projects identified.
“As one of the fastest growing cities in California, we must continue to invest in our infrastructure and ensure that we plan for the future of Menifee,” said City Manager Armando Villa. “This budget lays the foundation for our city staff to continue building a safe, attractive, interconnected, and economically prosperous community.”
This includes $33 million in funding for 53 total projects, which include the continued construction of the Holland Road Overpass, the Bradley Bridge over Salt Creek, and the Civic Center (Central Park) parking lot.
In September 2021, the City Council adopted an updated Reserve Fund Balance Policy to set aside funds for future emergencies. This Policy establishes a minimum 12.5% fund balance reserve for natural disasters and catastrophic events; a 12.5% reserve for economic slowdown due to the onset of a recession or other economic crisis; and a 10% reserve to offset the timing of grant reimbursements and the collections of revenues. The FY 2023/2024 and FY 2024/2025 Budgets maintain 35% reserves consistent with the 2021 Reserve Fund Balance Policy.
The full budget book is available for review at www.cityofmenifee.us/budget.
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