City Adopts $37 Million Policy by Ashley Dinkel - City News Group, Inc.
View Upcoming Events View Your Local Sales

Community Calendar

◄ SEPTEMBER ►
S M T W T F S
30 31 01 02 03 04 05
06 07 08 09 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 01 02 03
View Events
Submit Events

City Adopts $37 Million Policy

By Ashley Dinkel, Staff Writer
February 16, 2017 at 12:22pm. Views: 90

MORENO VALLEY>> The City of Moreno Valley announced the adoption of a financial reserve policy to direct the city's $37 million in reserves for specific purposes. "The policy will help maintain the city's financial stability, protect against future economic downturns which bring unpredictable shortfalls in tax revenue, better prepare the city, its residents and its businesses for a catastrophic natural disaster," said Marshall Eyerman, Chief Financial Officer of Moreno Valley. With 22 percent of its general fund in emergency reserves, Eyerman said the city currently meets the new reserve policy's minimum standards and exceeds the emergency reserve levels of other cities in California. Moreno Valley was recently ranked the third most financially stable city in the nation among cities with a population larger than 200,000. The city's modest debt loads and healthy general reserve funds were credited with helping the city rise to the top of the rankings. "The City of Moreno Valley remains committed to fiscal prudence while ensuring residents receive the quality services they have come to expect," said Mayor Yxstian Gutierrez. "The steps we are taking today will ensure a brighter tomorrow." Moreno Valley's new financial reserves policy formalizes the city's long-standing practice of maintaining reserves, and splits the reserve funds into three categories: Cash Flow, Rainy Day and an Emergency fund. The city does not receive property tax revenue until the end of January - seven months after the start of the city's fiscal year. Eyerman said maintaining a Cash Flow reserve with a minimum of 17 percent of the city's general fund expenses will allow the city to provide day-to-day services until property tax revenue is received. "Allocating a minimum of 10 percent of the city's general fund to a Rainy Day fund will ensure that the city has the flexibility to continue to deliver quality services during future economic downturns," Eyerman said. "Setting aside these funds is particularly important because economic recessions can reduce sales and property tax revenues which support the full range of services provided to the community." A minimum of 12 percent of the city's general fund will be assigned to an emergency fund which can be used in response to a catastrophic earthquake, flood, fire or other disaster. The fund will also provide a financial buffer in the event that the city is forced to wait for receipt of federal disaster relief funds.

Related Articles

Barney Barnett to Share Early Historic Pictures of Highgrove
Photo Courtesy of: Highgrove News

By Margie Miller- Publisher, Community Writer

November 30, -0001 at 12:00am. Views: 142

Barnett has served as the publisher of the Highgrove Happenings newspaper since 1994.Barnett will hold a free event, titled “Early Historic Pictures of Highgrove,” will be held at 6 p.m. on Tuesday, September 8, 2026, at the Norton Younglove Community Center, 459 Center Street in Highgrove.

Inland Empire Called on to Play Part in Hunger Action Month
Photo Courtesy of: Feeding America

By Rachel Bonilla, Community Writer

September 2, 2026 at 10:55pm. Views: 303

According to the latest data available from Feeding America’s Map the Meal Gap study, 48 million people, including more than 14 million children, experienced food insecurity in 2024, the highest level since 2014. Of the communities FARSB serves, we see food insecurity range from a low of 13.8% in Riverside County to a high of 15.6% in San Bernardino County.

GTHS Athlete of the Week: Annaleya Flores
Photo Courtesy of: TME Photography by Titan Mom Elvira

By Titan Mom Elvira, Community Writer

September 2, 2026 at 10:55pm. Views: 213

GTHS Senior and student-athlete Annaleya Flores is making her mark on the field and in the classroom while helping lead the Lady Titans during their inaugural GTHS Girls Flag Football season.

Assemblymember Ramos Launches County's Salvation Army Red Kettle Campaign
Photo Courtesy of: Office of Assemblymember James Ramos

By Carl M. Dameron, Contributing Writer

September 2, 2026 at 10:55pm. Views: 314

California Assemblymember James Ramos is the keynote speaker at The Salvation Army’s Red Kettle Kickoff celebration, the official launch of the 2026 Christmas fundraising campaign. Tuesday, October 20, 2026, at 5:30 PM at the Bear Springs Event Center in Highland, California.

From Dishwasher to Restaurateur: Mike Miller Brings 52 Years of Experience to Timber Ridge
Photo Courtesy of: Margie Miller

By Margie Miller- Publisher, Community Writer

August 28, 2026 at 08:13am. Views: 1484

Mike Miller & Lori Miller, Restaurateurs of Timber Ridge Steakhouse, the newsest restaurant on Hospitality Lane in San Bernardino located in the familiar spot previously occupied by Claim Jumper, and for those of us "older folks", Bobby McGees. You can find Mike & Lori at 1905 Commercenter E San Bernardino CA, 92408

It's Time to Get SOARING!
Photo Courtesy of: City of Moreno Valley

By Ruby Stephenson, Community Writer

August 26, 2026 at 01:40pm. Views: 1026

Fall 2026 Soaring Activity Guide is hitting the mail this week, and it’s chock-full of all the exciting things the City has planned throughout the Fall.

Stay Cool This Summer at a MoVal Cool Center
Photo Courtesy of: City of Moreno Valley

By William Cortez, Community Writer

August 26, 2026 at 01:40pm. Views: 842

When temperatures climb to 97 degrees and above, heat-sensitive residents may seek refuge at the City of Moreno Valley's designated cool centers.

Moreno Valley Receives CMTA Investment Policy Certification
Photo Courtesy of: City of Moreno Valley

By WIlliam Cortez, Community Writer

August 26, 2026 at 01:40pm. Views: 892

he City of Moreno Valley has received the California Municipal Treasurers Association’s Investment Policy Certification, recognizing the City’s commitment to responsible and transparent management of public funds.

FARSB Makes the Advocacy High Honor Roll for 4th Year in a Row

Photo Courtesy of: Feeding America Riverside San Bernardino

By Rachel Bonilla, Community Writer

August 26, 2026 at 01:40pm. Views: 1082

Targeted Crime Suppression – Operation Consequences: 5 arrests, 10 firearms seized
Photo Courtesy of: County of San Bernardino

By Ruby Stephenson, Community Writer

August 26, 2026 at 01:40pm. Views: 1151

Between Aug. 3 and Aug. 9, investigators from the San Bernardino County Sheriff’s Department – Gangs/Narcotics Division, along with deputies from patrol stations and personnel from partnering agencies, served 16 search warrants and contacted suspects throughout the county.

Ayala Park Celebrates New Improvements

Photo Courtesy of: County of San Bernardino

By William Cortez, Community Writer

August 26, 2026 at 01:40pm. Views: 952

Bloomington residents gathered at Ayala Park on Tuesday, Aug. 4, for a ribbon cutting ceremony celebrating new improvements designed to enhance accessibility, safety and comfort for children and families.

City Council Appoints Kimberly Huerta Youth Commissioner
Photo Courtesy of: Dr.G  (Dr Luis S González)

By Dr.G  (Dr Luis S González), Community Writer

August 26, 2026 at 01:40pm. Views: 975

Kimberly Huerta, Youth Commissioner and Chair of Colton Youth Council and Dr.G, Council Member and Advisor to the program.

--> -->