HomeMy WebLinkAbout2013-43 - Relating to a Fiscal Sustainability Plan for Newport Beach City GovernmentA RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH RELATING TO A
FISCAL SUSTAINABILITY PLAN FOR NEWPORT
BEACH CITY GOVERNMENT
WHEREAS, the City of Newport Beach has remained a fiscally responsible municipality
since its inception in 1906, carefully balancing its budget year -to -year despite changes in the
regional and national economy; and
WHEREAS, the City and the region have slowly returned to a period of economic growth,
the City is cognizant of its responsibility to continuously improve the organization and its
services to maximize efficiency and cost - effectiveness; and
WHEREAS, as the region may see new economic growth, the City faces significant and
costly obligations in the future, including rapid increases in retirement costs and the
maintenance, repair, and replacement of City facilities via the Facilities Financial Planning
program and the City's capital improvement program; and
WHEREAS, in 2010 the City Council of the City of Newport Beach adopted the following
fifteen (15) elements of a Fiscal Sustainability Plan and directed that the Plan be the policy of
the City Council going forward into 2010 and beyond; and
WHEREAS, Council Policy F -28 was updated to state the City will manage its Facilities
Financial Planning Reserve Fund so that General Fund contributions to the reserve shall reflect
a 3% minimum contribution rather than a 5% maximum contribution; now, therefore be it
RESOLVED by the City Council of the City of Newport Beach that it hereby revises
Element 5 of the City's Fiscal Sustainability Plan to maintain consistency with the changes to
Council Policy F -28 and the following fifteen (15) elements of the Fiscal Sustainability Plan
shall read:
ELEMENTS OF THE CITY'S FISCAL. SUSTAINABILITY PLAN
1. The City will proactively seek to protect and expand its tax base by encouraging a
healthy underlying local economy.
2. The City will work to enhance and protect the property values of all Newport Beach
residents and property owners.
3. The City will encourage shopping, dining, and visiting at Newport Beach stores,
restaurants, and hotels.
4. The City will establish and maintain appropriate cash reserves.
5. The City will manage its Facilities Financial Planning Reserve so that General Fund
contributions to the reserve shall not be less than 3.0% of the total General Fund
Operating Budget.
6. City revenue performance will be reviewed no less than quarterly and appropriate
budget adjustments will be made in advance of the end of a budget year if revenue
performance is not meeting projections.
7. The City will initiate a "results -based budgeting" approach that allows the public and the
City Council to prioritize City expenditures strategically rather than simply adjusting
legacy expenditures to reflect inflation.
8. The City will implement a Performance Measurement/Management Strategy as part of
an ongoing effort to ensure high - quality and efficient performance.
9. The City will consider competitive contracting of services and equipment when
appropriate and where clear, cost - effective alternatives exist.
10. The City will make it a priority to be energy efficient in its provision of public services.
11. The City will establish appropriate cost - recovery targets for its fee structure and will
annually adjust its fee structure to ensure that the fees continue to meet cost recovery
targets.
12. The City will oppose efforts of the State and County governments to divert revenues
from the City or to increase the unfunded service mandate of City taxpayers.
13. The City will work in partnership with its employees to ensure fair compensation and that
costs related to pension and other benefits are appropriately allocated between
employer and employees.
14. The City will vigorously defend itself and its taxpayers against frivolous lawsuits.
15. The City will seek additional intergovernmental funding and grants, with a priority on
funding one -time capital projects. Grant - funded projects that require multi -year support
will be reviewed by the Finance Committee.
ADOPTED this 14`h day of May, 2013.
ATTEST:
1
,
FEILANI 1. BROWN
City Clerk
KEITH D. CURRY
Mayor of Newport Beach
STATE OF CALIFORNIA }
COUNTY OF ORANGE } ss.
CITY OF NEWPORT BEACH }
1, Leilani 1. Brown, City Clerk of the City of Newport Beach, California, do hereby certify that the
whole number of members of the City Council is seven; that the foregoing resolution, being Resolution
No. 2013 -43 was duly and regularly introduced before and adopted by the City Council of said City at a
regular meeting of said Council, duly and regularly held on the 14th day of May, 2013, and that the same
was so passed and adopted by the following vote, to wit:
Ayes: Gardner, Petros, Hill, Selich, Henn, Daigle, Mayor Curry
Nays: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of
said City this 15th day of May, 2013.
1 � �
City Clerk
Newport Beach, California
(Seal)