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Rich City Biz – May 8, 2017

Featured Member - Herbalife

By Gwen Buchanan

Herbalife is a premier nutrition company. We make nutrition products with protein, fiber and vitamins to complement a balanced diet and support a healthy, active life. Herbalife is unique because of the one-on-one coaching and support that Herbalife Independent Distributors provide to their customers. Herbalife customers receive much more than a product, they get steady support and a plan to meet or exceed their personal nutrition, weight-management and fitness goals.

Our growth is driven by millions of consumers who use our protein shakes, snacks, energy and fitness drinks and personal care products. To meet the steadily growing demand for our products, we’ve built a network of company-owned manufacturing facilities around the world.

We support the Herbalife Family Foundation (HFF) and its Casa Herbalife programs to help bring good nutrition to children in need. We also sponsor more than 190 world-class athletes, teams and events around the globe, including Cristiano Ronaldo, the LA Galaxy and champions in many other sports.

The company has over 8,200 employees worldwide, and its shares are traded on the New York Stock Exchange (NYSE: HLF) with net sales of $4.5 billion in 2015.

Rich City Biz Blog - Highlights from the Richmond City Council Meeting on Tuesday, May 2, 2017

Agenda

Consent Calendar approved with exception of G-15 (removed). 

 

ACKNOWLEDGE receipt of the first drafts of the Fiscal Year 2017-18 Annual Operating Budget and Fiscal Years 2017-22 Five-Year Capital Improvement Budget, and establish the review process and schedule for their review and adoption - Finance Department (Belinda Warner/Markisha Guillory 620-5434).

FY2017-18 Budget Summary

 

Top Five Sources of Revenue

Property Tax: $61,295,352

Charges for Services: $58,734,099

Utility Users Tax: $45,916,543

Sales Tax: $41,796,531

Licenses, Permits, and Fees: $19,551,606

 

Total Revenue: $290,511,437

Total Expenditures: $293,988,354

 

Top Five Expenditures

Salaries and Wages: $84,611,212

Benefits: $57,356,607

Professional Services: $41,275,962

Debt Service Expenditures: $36,484,350

Cost Pool: $23,300,713

 

References In Agenda Packet

Attachment 1 – Budget Summaries

Attachment 2 – General Fund Revenue

Attachment 3 – General Fund Expenditures

Attachment 4 – Non-General Fund Revenue and Expenditures

Attachment 5 – Capital Improvement Projects

Attachment 6 – Multi-Year Comparative Position Listing

 

The operating budget gap is approximately $866,000. Anticipated adoption date is June 27th for the 2017-2018 Annual Operating Budget and for the 2017-2022 Five-Year Capital Improvement Budget. Richmond’s Finance Department holds budget workshops every February with all city departments. The estimated revenue is projected to increase 4.4% next year.

 

J-1.

ADOPT a resolution in support of the Saffron Strand's 8th Annual Homeless Workforce Conference to be held on June 12-13, 2017, in the Richmond Memorial Auditorium and continue to support this conference by waiving the cost of the Richmond Memorial Auditorium for the next five years - Councilmembers Gaye McLaughlin (620-5431) and Jael Myrick (620-6636).

 

Richmond has high rate of long-term homelessness and unemployment. Residents can improve their prospects for re-entry through the support of critical service providers and workforce training programs.

 

Scholarships for Saffron Strand’s 8th Annual Homelessness Workforce Conference on June 12-13 are provided to direct service providers with little to no budget for training. Local citizens and businesses encouraged to support with donations. The city of Richmond is committed to addressing homelessness as a regional issue.

 

Original motion: passes with Vice Mayor Beckles abstaining and Mayor Butt voting no.

 

K-1.

APPROVE sponsorship by the City of Richmond of the 2017 Soil Not Oil "Building a Climate for a Livable Climate and Environmental Justice" Conference to be held on September 7-8, 2017, at the Richmond Memorial Convention Center - Councilmember Gayle McLaughlin (620-5431) and Mayor Tom Butt (620-6503).

Holding this conference in Richmond celebrates our city’s leadership in directly addressing environmental justice and climate change.

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