County’s financial position at midyear better than previously projected

Riverside County government’s financial position going into the second half of the current fiscal year is better than predicted, with discretionary revenue now on track to beat initial estimates by almost $100 million, though cost pressures are impacting operations, according to a report that the Board of Supervisors will review the week of Feb. 27.“Although the near-term outlook appears stable, we have challenges looming in the coming fiscal years,” county Chief Executive Officer Jeff Van Wagenen said. “While we continue to project increased revenues, the pace of growth is slowing significantly while costs continue to rise to maintain the status quo, let alone increase service levels or initiate new programs.”The Executive Office said that discretionary revenue will like
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