On the agenda: Richmond City Council to review financial health, contracts, and winter storm funding

The Richmond City Council will receive a report on the City’s Annual Comprehensive Financial Report during its February 4 meeting. Councilmembers will also consider a series of contracts, including one for grant management software and a proposal for winter storm response funding.

Improved financial position amid rising pension liabilities

The City of Richmond, California, released its annual financial report for the fiscal year ending June 30, 2024, revealing a mixed picture of improved overall financial health alongside rising pension liabilities and a growing deficit in governmental activities.

The City of Richmond’s total net position — a measure of assets minus liabilities—improved significantly in the 2024 fiscal year. According to newly released financial statements, the total net position was $138.9 million, an increase of $67.3 million over the previous year. The financial statements will be presented at the February 4 council meeting.

The city’s Net Pension Liability increased by  $8.2 million from $369.6 million to  $377.8 million. The city also reports $63.4 million in the Other Post-Employment Benefit (OPEB) liability for this fiscal year, which is a decrease of $11.3 million from the $74.7 million obligation reported in the previous year. 

The General Fund, the primary operating fund of the city, saw revenues increase by $12.1 million or 5.8 percent to $218.7 million, and expenditures increase by $18.6 million or 10.3 percent to $198.6 million. The total fund balance increased by $13.1 million (15.2 percent) to $99.4 million.

On the consent calendar

$210,395 contract for grant management software

The Richmond City Council will consider a three-year, $210,395 contract with Submittable Holdings, Inc. for grant management software. The software will support the Richmond Department of Children and Youth, Community Services Department, and Economic Development Arts and Culture Division. The contract includes two one-year extension options at $49,500 annually, with an initial expiration date of June 30, 2028.

$32,500 contract for a Cost Allocation Plan

The council will vote on a $32,500 contract with Matrix Consulting Group to develop a Cost Allocation Plan. The plan will guide city finance staff and the Richmond Housing Authority in preparing an Indirect Cost Allocation Plan that complies with federal regulations. The contract runs from February 1, 2025, to February 1, 2028, with an option to extend for two additional years.

$96,000 parcel, mortgage, and deed records

A proposal to consolidate contracts with First American into a single agreement is up for approval. The five-year contract, valued at up to $96,000, will provide parcel, mortgage, and deed records as well as access to DataTree.com. The city will allocate $19,200 annually from the general fund to support the contract.

$17,000 contract amendment

The council will consider a $17,000 contract amendment with New York Wired for Education, which would extend the city’s online job training program through January 29, 2027.

Comparative analysis of drone light shows

A separate agenda item will present a comparative analysis of drone light shows versus traditional fireworks for Richmond’s Third of July celebration. City staff recommends continuing with traditional fireworks, citing feasibility, cost, and public preference.

ROCK advisory board appointment

Mayor Eduardo Martinez has nominated Lashara LaShawn Monique Johnson for appointment to the Community Crisis Response Program Advisory Board, with a term ending December 31, 2025.

2025 Richmond City Council Appointments

The council will also approve committee and liaison appointments for 2025, assigning the mayor and councilmembers to regional and ad-hoc committees.

$150,000 severe weather mitigation efforts

A resolution to appropriate $150,000 from the Emergency Operation and Disaster Recovery Fund for winter storm and landslide response is proposed. The funding will support mitigation efforts to prevent property damage from severe weather.

Vactor trucks and street sweeper lease

The council is set to approve a $114,711.78 contract with Owen Equipment Sales to cover outstanding balances and service charges related to the purchase of two Vactor trucks and invoices from the city’s Street Sweeper Lease.

Santa Rita Stabilization Project

Another resolution seeks to finalize the Santa Rita Stabilization Project, declaring it complete and authorizing the release of bonds and retention payments.

Agreement with Union Pacific Railroad

Lastly, a resolution authorizing an agreement with Union Pacific Railroad to advance preliminary engineering work for the Richmond Wellness Trail Phase 2, part of the Transformative Climate Communities (TCC) initiative.

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