Council OK's budget totaling $266 million for two years

Press release from the City of Menifee:

MENIFEE – To meet the challenges of the Top Boomtown in California, the City of Menifee’s Fiscal Year (FY) 2023/2024 and 2024/2025 Operating and Capital Improvement Program (CIP) Budgets make impactful investments in enhancing services to the community while ensuring the funding of critical projects that will enhance the overall quality of life of Menifee residents and businesses.

At $266 million over two years, the City’s first biennial budget represents the largest in the City’s history. The budget also reflects a cautiously optimistic financial outlook, with steadily increasing revenues against the backdrop of an overall uncertain national and local economy.

Balancing the diverse needs of the Menifee community, while ensuring strategic and fiscally responsible financial management, remains a fundamental element of the City’s approach in the development of its budget. To that end, the newly adopted two-year budget aligns with strategic priorities identified in the 2023-2028 Strategic Plan approved by the Menifee City Council in April 2023, with a strong focus on public safety and infrastructure.

Public safety continues to be a high priority for the City and represents approximately 55 percent of the total budget. Since its launch in July 2020, the Menifee Police Department has become an award-winning agency that has attracted experienced officers from across the country. The two-year budget allocates the funding and resources necessary for Menifee Police Department to continue providing exceptional service with over 90 sworn officers and 24 non-sworn employees.

“Our goal is to make Menifee one of the safest cities in the nation,” said Councilmember Lesa Sobek. “This budget reflects our City Council’s support for our first responders and gives them the resources necessary to continue protecting and serving our community.”

Infrastructure is also a key priority and the budget reflects strategic investments in projects that will help alleviate traffic congestion and improve the quality of life for residents in Menifee. The City has adopted a very aggressive five-year Capital Improvement Program that has identified 191 projects totaling over $700 million. The newly adopted two-year budget allocates $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.

“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.”

The newly adopted two-year budget also maintains a healthy reserve balance. 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 percent fund balance reserve for natural disasters and catastrophic events; a 12.5 percent reserve for economic slowdown due to the onset of a recession or other economic crisis; and a 10 percent reserve to offset the timing of grant reimbursements and the collections of revenues. The FY 2023/2024 and FY 2024/2025 Budgets maintain 35 percent reserves consistent with the 2021 Reserve Fund Balance Policy.

The full budget book is available for review at www.cityofmenifee.us/budget.