Riverside County government’s income will be higher than originally expected — by almost $100 million — as the current fiscal year draws to a close, but “financial pressure” continues to build as priorities demand more outlays, according to a report that the Board of Supervisors will review Tuesday.

The Executive Office’s 2023-24 third-quarter budget report will be among the top items on the board’s agenda. It will be the final analysis of existing finances prior to the start of 2024-25 budget hearings next month.

“While the near-term financial outlook appears stable, challenges are looming in the years to come,” the EO stated in the 50-page report. “While we are projecting increases this fiscal year and next, it should be noted that the pace of growth is slowing, while costs continue to rise to maintain the status quo, let alone increase service levels. Additionally, the need to maintain or replace our aging facilities adds financial pressure.”

Aggregate discretionary revenue is projected to reach $1.224 billion, just over $80 million more than first estimated at the beginning of the current fiscal year, when officials expected inflows by June to total $1.14 billion.

According to the report, property tax revenue, motor vehicle in lieu of property taxes and interest earnings on county treasury pool investments are all coming in at higher levels, driven in part by inflation.

There was no reference in the third-quarter update to the state’s sizable budget deficit, which the California Legislative Analyst’s Office estimated to be $68 billion, and how that may impact funding levels for a number of state-supported programs countywide going into 2024-25.

The board generally has a free hand in allocating discretionary funds, as opposed to programmed, or non-discretionary, appropriations, which are earmarked for a range of social, health and other budget mechanisms.

The 2023-24 budget is roughly 15% larger than 2022-23’s, which was about $7.45 billion.

A bright line in the midyear budget report issued in February was that aggregate reserves would likely reach $677 million, as opposed to the initial prediction of $555 million, by June.

The county received almost $500 million in 2020 Coronavirus Aid, Relief & Economic Security Act allocations and another $480 million in 2021 American Rescue Plan Act money. Just under 10% of the federal infusions have been applied to “budget stabilization.” Some of the revenue remains available and is being allocated to community development and related programs.

The funds were previously used for homeless and rental assistance programs, along with other social welfare efforts, but they’ve also been appropriated for capital improvement projects.

Hearings on the proposed 2024-25 fiscal year budget are slated for June 10-11.

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United Lift, a rental assistance program coordinated between Riverside County, United Way of the Inland Valleys, and Lift To Rise, is launching this week with the goal of keeping 10,000 families and residents housed.

The program for Riverside County residents will provide $33 million in rental assistance between the months of June and November. Lift to Rise and United Way of Inland Valleys will administer the program, including dispersing the first round of payments in July.

“Riverside County, a place already facing significant economic insecurity and rent burden, is now severely impacted by the near collapse of the region’s tourism and entertainment economy, said Riverside County Supervisor V. Manuel Perez. “The ability of our region to come together like this and keep people in their houses reflects the values and spirit that remain so strong here despite our challenges.”

Residents may apply at UnitedLift.org or by calling 2-1-1. The application portal will be live and available in English and Spanish beginning June 15. The first application window will be open for 10 days and close on June 25. Following the initial window, applications will be open every month for a period of 10 days.

“We are grateful to be trusted as stewards of vital resources and eager to continue our work to ensure that Riverside County residents affected by COVID-19 and its subsequent economic impact have the support they need to lead healthy and stable lives,” said Lisa Wright, President and CEO of United Way of the Inland Valleys.

Eligibility is limited to renters in Riverside County with a current lease agreement who are either individuals or families earning 80 percent or below of the area’s median income, or who can document a loss of income due to COVID-19 economic impacts, leaving them unable to make their rent.

Households meeting the initial eligibility requirements, will be selected by a random selection system and will be required to provide documentation showing their economic hardship. Payments will be made directly to landlords. Households not selected for rental assistance may re-apply in subsequent application windows. Rental assistance is intended to cover past due rent from March to November 2020, up to $3,500 per household.

“An unprecedented collaboration of community organizations pushed for a difference-making level of rental assistance and were critical in making it happen. We are thankful the Board of Supervisors recognize the importance of investing in the resiliency of families today and in the future because we know housing insecurity and rent burden are the top challenges that hold our communities back,” said Heather Vaikona, President and CEO of Lift to Rise.

Lift To Rise will outreach to households in the east end of Riverside County including all Coachella Valley cities and unincorporated communities, Blythe, Banning, and Beaumont. United Way of the Inland Valleys will cover the remaining west and southwestern portions of Riverside County. The two organizations are coordinating efforts to create a clear and streamlined process for residents to access needed rental assistance. United Lift will report data from the rental assistance program to contribute to the understanding of how rent burden impacts communities in Riverside County.

-Brooke Federico

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