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Home My WebLink About13 - COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget AmendmentQ SEW Pp�T CITY OF z NEWPORT BEACH c�<,FORN'P City Council Staff Report April 28, 2020 Agenda Item No. 13 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Dan Matusiewicz, Finance Director - 949-644-3123, dmatusiewicz@newportbeachca.gov PREPARED BY: Steve Montano, Deputy Finance Director, smontano@newportbeachca.gov PHONE: 949-644-3240 TITLE: COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment ABSTRACT: Due to the evolving Coronavirus (COVID-19) Pandemic and its immediate impact on City revenue, the City Manager is proposing revised revenue estimates and recommends appropriation reductions for FY 2019-20. The City Manager's proposed budget for FY 2020-21 will incorporate similar adjustments that will be presented to the Finance Committee and the City Council in May. RECOMMENDATION: a) Determine this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because this action will not result in a physical change to the environment, directly or indirectly; b) Review and consider the City Manager's recommendations for FY 2019-20 revenue and expenditure changes; c) After discussing the City Manager's recommendations, approve or revise Budget Amendment No. 20-044 changing certain budgeted revenue and expenditure estimates for FY 2019-20; and d) Provide direction on funding allocation for City grants programs for FY 2020-21. FUNDING REQUIREMENTS: The City Council, upon adoption of the proposed revenue and expenditure adjustments as indicated, or revised by City Council, in Attachment A will be amending the FY 2019- 20 Adopted Budget to mitigate adverse impacts on reserves. 13-1 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 2 DISCUSSION: Background The City of Newport Beach, along with other local jurisdictions, states, and the federal government are facing an exceptionally challenging economic environment as a result of the COVID-19 Pandemic. The stock market plunge, massive unemployment increases, and eroding consumer confidence from this unprecedented halt in economic activity have led to deteriorating revenue streams. For us, sharp declines in sales, transient occupancy, leases, as well as parking and other revenues, serve as the unfortunate backdrop for this proposed budget amendment. To say that our economic and revenue environment is fluid is an understatement. Unfortunately, the life safety measures necessary to combat the pandemic are at odds with the economic health to our community and the broader world economy. While FY 2019-20 is winding down, we'll have more definitive information in the coming months, but acknowledge there is still a significant amount of uncertainty in our forecast, especially as it relates to sales tax and the Governor's executive order (N-40-20) that allows small businesses to defer up to $50,000 of their sales tax liability for 12 months. We anticipate that FY 2019-20 revenues will be down between $8 to $13 million in the General Fund alone and under City Manager direction, have made provisions to make sure we realize at least $13 million in expenditure savings for the remainder of the fiscal year as a "bridge" solution to narrow the revenue shortfall chasm. There are non -General Fund fiscal impacts anticipated in other funds that are mentioned in this report but not part of the proposed budget amendment. This is due to our inability to predict the depth of these impacts with any great certainty. As the world regroups to determine when and how the life safety restrictions will be lifted, there are varying speculative timelines of when life will return to some semblance of normalcy. The answer to this question is obviously unknown but the City Manager's proposed budget for FY 2020-21 will consider similar adjustments to the operating and capital budgets. These adjustments will be presented to the Finance Committee and City Council in May and are highly sensitive to the duration of social distancing restrictions and consumer behavior for the term of the upcoming fiscal year. The FY 2019-20 and FY 2020-21 fiscal impacts were discussed with the Finance Committee on April 16, 2020. Revenues The swift reaction by consumers and businesses to the outbreak of coronavirus (COVID- 19) in the U.S. has caused a massive decrease in spending on certain goods and services. The national and state response combined with the uncertainty of how long the presence of the virus will disrupt the U.S. economy has made forecasting revenues particularly challenging. Our FY 2019-20 revenue forecast was developed after numerous news updates detailing "shelter -in-place" related impacts, comparisons to previous economic downturns like the Great Recession, studying reports and projections of industry specific analysts and considering past cyclical trends of our revenue receipts. 13-2 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 3 General Fund The General Fund's top three revenue sources (Property Tax, Sales Tax, and Transient Occupancy Taxes) account for approximately 75% of total General Fund revenues. With 75% of the year complete through March, General Fund revenues overall are at 68.6% of the budget, compared to 67.1 % at this same time last year. Due to the tax remittance calendar and seasonality of certain revenues, this is a normal trend for this time of year. As of this writing, the fiscal impacts of COVID-19 are not yet reflected in the actual receipt figures below as we anticipate the final quarter of the fiscal year to be most impacted by the pandemic. General Fund FY 2019-20 Revenues Through Q3 (March 2020) and Revised Estimate PropertyTaxes $113,601,474 $71,054,562 62.5% $112,723,626 -$877,848 -0.8% Sales Tax $35,697,090 $24,202,559 67.8% $34,411,405 -1,285,685 -3.6% Transient Occupancy Tax $24,458,131 $18,235,366 74.6% $19,062,031 -5,396,100 -22.1% Service Fees and Charges $21,878,375 $16,015,350 73.2% $18,570,003 -3,308,373 -15.1% Property Income $11,663,612 $11,742,543 100.7% $10,466,836 -1,196,776 -10.3% OtherTaxes $11,597,886 $7,689,764 66.3% $10,801,170 -796,716 -6.9% Licenses and Permits $4,918,412 $3,820,484 77.7% $4,547,521 -370,891 -7.5% Fines & Penalities $3,481,688 $2,700,825 77.6% $2,839,260 -642,428 -18.5% Intergovernmental $2,536,817 $1,522,755 60.0% $2,646,129 109,312 4.3% Other Revenue $1,633,136 $1,866,189 114.3% $1,901,329 268,193 16.4% Total $231,466,622 $158,850,395 68.6% $217,969,310 -$13,497,311 -5.8% Property Tax — Secured property taxes are recorded as they are remitted, in large part, during December and April of each year. They are likely to be among the least affected revenue sources by the pandemic (at least in the short term). A large secured property tax payment is expected in late April. Most property tax revenue categories through March are thus far meeting or exceeding the prior year collection trend and the revenue category overall is 5.4% higher than at this same time last year. Assuming there may be slightly higher than normal property tax payment delinquencies in April, we have made an allowance to absorb an additional $878,000 reduction from the budget, which may or may not come to pass. 13-3 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 4 Sales Tax - The City's sales tax base is FS , Euldg largely generated from three main industry Food s sem, categories including Autos and Business AAoe arA Transportation, General Consumer Industry Goods, and Restaurants/Hotels as indicated in the adjacent pie chart. The largest segment, "Autos and Transportation," accounts for 34% of total ae a'da°` sales taxes and is represented by new and ".WK used auto/boat/aircraft dealers, supply stores and repair shops. The next largest segment, "General Consumer Goods" Source HdL Companies accounts for 27% of total sales taxes and is represented by a multitude of stores and shops that provide various consumer goods. The third largest sales tax segment, "Restaurants and Hotels," accounts for 21 % of total sales tax and is represented by over 400 restaurants, hotels, clubs and other amusement places. Due to COVID-19, the California Department of Tax and Fee Administration (CDTFA) has allowed small businesses with less than $5 million in annual taxable sales (29.4% of businesses in Newport Beach) to defer payment on up to $50,000 of sales/use tax. As of this writing we are not aware of how many local businesses may exercise this deferral option and will not know for some time due to the inherent lag in the tax remittance calendar.' Due to the cessation of economic activity we expect in all industry categories during the last quarter of the fiscal year, we made allowances in our budget to accommodate a $1.3 million reduction in sales tax revenue from our original budget projection. It should be noted our original budget projection for FY 2019-20 was conservatively low. Transient Occupancy Tax — The COVID-19 pandemic has spread across the globe and caused travel bans, canceled large events and vacation plans, and has significantly impacted the travel and leisure industry of Newport Beach. Citing increased risk for COVID-19 exposure, the City Council has also prohibited short-term lodging rentals until May 20 or for the duration of the City's local emergency. We have adjusted our budget outlook downward by $5.4 million to account for the anticipated decline in residential and hotel transient occupancy tax through the last quarter of the fiscal year. Businesses collecting sales and use taxes periodically remit the amount collected to the California Department of Tax and Fee Administration (CDTFA). To compensate for the lag time between the sales period and the time that the tax is remitted to the City, CDTFA advances 90% of the net sales tax collections for the same period of the prior year. The difference between the advances and total actual receipts for the quarter is remitted in the form of "clean-up" payments, which are included in the February, May, August, and November remittances. The amount of sales tax realized through March represents five monthly advance payments and two clean-up (November 2019 and February 2020) payments. 13-4 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 5 Other Revenue — The budget for all remaining "other" General Fund revenue amounts to $57.7 million and includes such categories as service fees and charges, property income, other taxes, licenses and permits, fines and penalties, and intergovernmental revenue. While certain revenue categories are estimated to be higher, we anticipate a net decrease of $5.9 million from the budget due largely to the cancellation of nearly all recreation classes and a reduction in estimated business license tax and marine charter tax receipts. There will also be less revenue from facility rental fees, parking fees, and certain planning fees. Other Funds Tidelands (Fund 100) — The Tidelands Operating Fund is used to account for revenues related to the operation of the Tidelands under City jurisdiction, including beaches and marinas, and the related expenditures. Revenues within this fund include income from parking lots, meters, and the sale of oil as well as rents from moorings, piers, and leases. The Tidelands Operating Fund does not generate sufficient revenue to cover the full cost of operations, largely due to public safety costs related to the ocean beaches, including lifeguarding, Emergency Medical Service response, and police services. Due to the gap between revenues and expenditures, the City's General Fund transfers money to subsidize the operations of the Tidelands Operating Fund. This occurs on an annual basis (the actual transfer for FY 2018-19 was $8.2 million). Due to COVID-19, beach front parking lots have been closed to the public and where paid parking is still available, we have seen a drastic reduction in revenues due to the stay at home order. Unrelated to COVID-19, oil prices have also fallen recently. Consequently, we estimate a revenue shortfall of $1.5 million within the Tidelands Operating Fund for FY 2019-20. Gas Tax (Fund 121) — The state of California imposes sales taxes and per -gallon excise taxes on gasoline and diesel fuel. The local portion of these allocations flow through the Highway Users Tax Account (HUTA). State law requires that these funds be used exclusively for maintenance of the street and highway system. Due to COVID-19 we anticipate a reduction in fuel consumption. Revenues within the Gas Tax Fund are estimated to be 20% less than projected which amounts to a revenue shortfall of $500,000 for FY 2019-20. Measure M (Fund 122) — Orange County Transportation Authority receives a half -cent sales tax for transportation improvements in Orange County. The City of Newport Beach is distributed a portion of those funds to use exclusively for transportation related purposes. A reduction in countywide sales activity in the second quarter of 2020 (April — June) due to COVID-19 is estimated to result in a loss of $330,000 from the Measure M2 Local Fair Share Program. S1131 RMRA (Fund 126) — Road Maintenance and Rehabilitation Account (RMRA) revenues are generated from fuel and vehicle registration taxes imposed by the state's Road Repair and Accountability Act of 2017 (SB1 Beall). State law requires these funds be used exclusively for the transportation system. A 20% reduction in projected FY 2019- 20 revenues would result in a budget shortfall of approximately $150,000. 13-5 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 6 Water and Wastewater (Funds 701 and 711) — An increased number of accounts may be delinquent as a result of Governor Newsom's Executive Order N-42-20 temporarily suspending water shut offs. However, staff does not anticipate a material impact to the Water and Wastewater Funds. To align expenditures with the anticipated reductions in revenues for the Other Funds discussed above, staff will propose capital improvement project deferrals, as necessary for FY 2020-21. Expenditures With expenditures at 68% of the budget, the General Fund spending is generally on -track through the third quarter of the fiscal year. Some departments incur a greater or lower level of expenditures in the first half of the year than in the second half due to the timing and seasonality of their operations or programs. This variability is generally consistent with prior years. To align expenditures with reduced revenues, Finance Department staff working with all departments identified General Fund expenditure reductions of $13.79 million. General Fund Operating Expenditures General Fund FY 2019-20 Expenditures Through Q3 (March 2020) and Revised Estimate Salary & Benefits $155,502,069 $111,915,572 72.0% $152,502,069 -$3,000,000 -1.9% Professional&Contract Services 25,749,546 15,116,102 58.7% $23,102,927 -2,646,619 -10.3% Maintenance & Repair 9,335,354 5,346,545 57.3% $8,856,705 -478,650 -5.1% Supplies & Materials 5,615,312 3,702,284 65.9% $5,105,426 -509,886 -9.1% Utilities 3,328,840 2,069,428 62.2% $2,753,193 -575,646 -17.3% Transfer out of Workers Comp 3,000,000 - 0.0% $1,000,000 -2,000,000 -66.7% General Expenses 2,250,633 1,392,561 61.9% $2,082,950 -167,683 -7.5% Travel &Training 967,241 586,121 60.6% $787,886 -179,355 -18.5% Capital 944,514 451,306 47.8% $779,646 -164,868 -17.5% Transferoutof 800 Mhz Radio 500,000 - 0.0% $0 -500,000 -100.0% Unallocated FY19 Fund Balance - -$2,300,000 -2,300,000 Close out Completed Capital Projects -1,264,177 -1,264,177 Total $207,193,510 $140,579,919 67.8% $193,406,625 -$13,786,885 -6.7% Of this amount $7.7 million in expenditure reductions derived from the categories that follow. In most cases, these are reductions that do not impact service levels and would have materialized as savings at year end. Salary & Benefits ($3 million reduction) — Represents anticipated savings due to vacancies, attrition, retirements, and delays in hiring. 13-6 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 7 Professional & Contract Services ($2.6 million reduction) — Funds allocated for hiring an independent contractor to perform a specialized, project -based service. Maintenance & Repair ($0.5 million reduction) — Expendable materials and operating supplies necessary to conduct departmental operations. Supplies & Materials ($0.5 million reduction) — Office, janitorial, copy machine, tools and other supplies. Utilities ($0.6 million reduction) — Cost incurred by using utilities such as electricity, water, and telecommunication. General Expenses ($0.2 million reduction) — Uniforms, publications and dues, advertising and public relations, tuition reimbursement and postage. Travel & Training ($0.2 million reduction) — Costs associated with employee travel and training for the purpose of conducting business-related activities. Capital (outlay) ($0.2 million reduction) — Fixed assets which have a value of $500 or more and have a useful economic lifetime of more than one year; or, assets of any value if the nature of the item is such that it must be controlled for custody purposes as a fixed asset. General Fund Transfers Out ($2.5 million reduction) Inter -fund transfers or "transfers -out" include resources transferred to other funds, which are used to accumulate resources for long-term liabilities or replace capital assets. A $3 million transfer from the General Fund to the Workers' Compensation Fund was allocated in the FY 2019-20 Adopted Budget to provide funds for the estimated actuarial liability. These actuarial estimates are subject to significant uncertainties and assumptions that can result in deviation from expected results. Because the most recent valuation suggests relatively favorable funding progress, staff recommends that $2 million can be retained by the General Fund. A total of $0.5 million was transferred to the Equipment Replacement Fund as a set-aside (savings plan) for the perpetual replacement of the 800 MHz Countywide Coordinated Communications System (CCCS). The CCCS is Orange County's analog/digital trunked public safety radio communications system that provides radio communication services and interoperability among City and County law enforcement, fire services, public works and lifeguard/marine safety departments in Orange County. The City has recently upgraded all of its 800 Mhz equipment and funded its share of the County backbone. The next significant upgrade may be a decade or so in the future, but the City has continued to prepare for this eventuality by setting aside $500,000 per year to meet the future replacement need. This can be deferred for a year without significantly impacting this replacement plan. Staff recommends that $0.5 million can be retained by the General Fund. 13-7 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 8 General Fund Unallocated FY 2018-19 Fund Balance ($2.3 million) Every budget adheres to Council guidance regarding the use of prior year surplus funds. Roughly half of any surplus balance in any given year is allocated to address long term obligations with the remaining half allocated to various neighborhood enhancement capital projects. There is approximately $2.3 million of the net remaining unallocated (FY 2018-19) surplus fund balance for capital projects that can be applied to offset FY 2019- 20 capital expenditures. Preliminary Estimated Financial Impact on the FY 2020-21 Proposed Budget and Strategy The City Manager's FY 2020-21 Proposed Budget assumes that the decline in the economy and revenues will bottom out but will slowly rebound. Due to the significant uncertainty, we have tried to build in flexibility through a "tiered" expenditure reduction approach should our assumption prove too optimistic. As a result of the severity of the downturn and the likely prospect of more economic and revenue uncertainty, the budget is anticipated to require frequent review and one or more budget adjustments during the year. Prior to making any recommended expenditure reductions, we anticipate a budgetary shortfall of approximately $37 million. To balance the projected deficit, a one-time or "bridge" solution is being developed that relies on a combination of targeted reductions in operating accounts with underutilization trends, deferred capital project spending, reduced transfers to other funds and a partial suspension of the City's discretionary pension payment to CaIPERS. This approach has been developed in recognition of an abrupt budget chasm that we do not yet know the depth and length. Due to the City's long-term planning practices, one-time adjustments are available to provide us time to determine the longer term impacts and develop service level adjustments, including changes to personnel and service delivery models, if necessary. This will prevent us from having to make unnecessarily deep City service cuts that severely impact the community and the organization. While some budgetary challenges can be absorbed by temporary cost cutting, opportunities to cut such things as salaries and benefits, and professional contract services expenditures, take time to evaluate, prioritize and implement, especially in order to understand the full service level impacts of these actions. Barring a structural deficit that would necessitate a permanent shift in the City's service delivery model, the Contingency Reserve, upon Council direction, is recommended to be used in lieu, or in concert with, spending cuts in this extreme event we find ourselves in. We are in extraordinary times with no assured models from the past we can presently use to predict the future. We have designed this budget to keep the Council's options open; to offer choices and alternatives as much as possible as you review the City Manager's recommended FY 2020-21 Budget. 13-8 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 9 Grant Funding The City's adopted FY 2019-20 General Fund budget has discretionary, special events and cultural arts grants to provide financial assistance to organizations providing services and events to local residents and for developing and promoting culture, theatre and the arts. The City Council authorized the following grant amounts in the FY 2019-20 budget as identified in Council Policy A-12 Discretionary Grants. The remaining balance for each grant is also indicated below. • City Grants (Budget: $80,000) provide grants for human service programs and non -profits - $67,000 awarded by City Council, $52,000 spent year to date — no additional expenditures anticipated; • Special Event Support (Budget: $60,000) provides grants in the form of City fee waivers for community events held in the City - $56,940 awarded by City Council, $28,090 distributed year to date. Several events were postponed or canceled due to the Governor's Order; • Cultural Arts Grants (Budget: $40,000) — provide grants for art organizations and programs including performance-based art for the community - $31,000 awarded by City Council and distributed. • Signature Events (Budget: $244,000) provide grants to events that are large scale and of economic benefit to the community - $84,000 spent year to date. The Newport Beach Film Festival has been postponed to August. The City has a three- year agreement through FY 2021-22 to provide $150,000 each year to the Film Festival. Also in this budget is $50,000 annually to the Newport Chamber for the Christmas Boat Parade through FY 2021-22 as part of a multi-year agreement. As the grant application process typically begins before the start of the fiscal year in order to allocate funds early in the new year, staff is requesting City Council direction on the amounts for these grant programs that will be made available for FY 2020-21. Budget Schedule The schedule for the remainder of the FY 2020-21 Budget Development process is as follows: Thursday, May 14 - Finance Committee 1 st review of FY 2020-21 budget. Thursday, May 21 - Finance Committee 2nd review of FY 2020-21 budget. Tuesday, May 26 - Council Study Session - 1st Council Review of Proposed Budget (Joint Council/Finance Committee). Thursday, May 28 - Finance Committee to develop written comment on City Manager's Proposed FY 2020-21 Budget. Recommendations for changes to Proposed budget will be presented via Proposed Budget Revision (PBR). Tuesday June 9 — City Council Budget Adoption and GANN limit public hearing 13-9 COVID-19 Pandemic Estimated Financial Impact on City Operating Revenue and Recommended FY 2019-20 Budget Amendment April 28, 2020 Page 10 ENVIRONMENTAL REVIEW: Staff recommends the City Council find this action is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. NOTICING: The agenda item has been noticed according to the Brown Act (72 hours in advance of the meeting at which the City Council considers the item). ATTACHMENT: Attachment A — Budget Amendment 13-10 City of Newport Beach BUDGET AMENDMENT 2019-20 BA#: 20-044 ATTACHMENT A Department: ONETIME: O Yes ❑ No Requestor: Approvals Prepared by: Finance ❑ CITY MANAGER'S APPROVAL ONLY Finance Director: Date O COUNCIL APPROVAL REQUIRED City Clerk: Date EXPLANATION FOR REQUEST: FY20 Budget Amendment ❑� from existing budget appropriations ❑ from additional estimated revenues ❑ from unappropriated fund balance REVENUES Fund # 0rq__ Object Project Description _ Increase or (Decrease) $ L0 01099 691001 General Fund Interfund Transfr - Transfers In --- $748,655.00 _ 1010 01003 490044 General Fund Misc Non Op - Property Tax Revenue Reductio ($877,848.00); 010 01003490045 _ — General Fund Misc Non Op - Sales Tax Revenue Reduction _ ($1,285,685.00) i010 01003 - 490046 I General Fund Misc Non Op -Tot Revenue Reduction _ _ ($5,396,100.00)' r010 _ 010 01003 _ _ 01003 490052_______ 4901 055 General Fund Misc Non Op - Svc Fees/Charges Revenue Rdc General Fund Misc Non O - Property Income Revenue Rdctn I ($3,308,373. ($1,196,776.00) 010_ 01003 _'__490047__.__J _.891.00 __ General Fund Misc Non Op - Other Taxes Revenue Reduction ($796,7 16.00)) 010 _ � 01003 490042 (General Fund Misc Non Op -Licenses &Permits Rev Rdctn Fund Misc Non Op & Penalities Rev Rdctn ----- _ -----($370, ) I 010 -- 010 01003 -- 01003 490053 490043 _ General -Fines General Fund Misc Non Op - Intergovernmental Rev Rdctn _ ($642,428.00) — — $109,312.00 _ _ I 1010_ _ !01003 490068 _ _ General Fund Misc Non Op - Other Revenue Reduction _ _ _ _ $268,175.00 a 012 ___ 01299 691010 Interfund Transfers - Transfer In General Fund ($81,588.00) 101 10199 691010 Interfund Transfers - Transfer In General Fund ($85,061.00) 1513511 ------------ ;536 399 691010 Interfund Transfers -Transfer In General Fund i ($104,874.00), 1571 53699 157199 691010 Interfund Transfers - Transfer In General Fund ($45,391 00) 691010 Interfund Transfers - Transfer In General Fund ($198,609.00); 1750 ____75099 .691010 ...... Interfund Transfers - Transfer In General Fund 00, ($($500,000.000) 754 `75499 191010— 1 Interfund Transfers - Transfer In General Fund Subtotal$ (15,764,198.00) 1 of 2 13-11 �g��vapR . n cgCt FORN`r City of Newport Beach BUDGET AMENDMENT 2019-20 BA#: 20-044 Department: ONE TIME: p Yes ❑ No Requestor: Approvals Prepared by: Finance ❑ CITY MANAGER'S APPROVAL ONLY Finance Director: Date �!�7•- 17) COUNCIL APPROVAL REQUIRED City Clerk: Date EXPENDITURES Fund 1010 # Or _ — 01050005 Object Project -- 800000 I Description Increase or (Decrease) $_ CDD Admin - Operational Savings T ($29,706.00), 010 _ 01015005 _ 800000 __-- _ _ _ _ ( City Attorney Admin -Operational Savings - ---� ------ ($180,000.00)1 1010 01010005 800000 City Clerk Admin - Operational Savings ($5,000.00); 010 _ 01020005 800000 _ City Manager Admin - Operational Savings ($470,000.00)1 010 01005005 800000 _ City Council Admin - Operational Savings — Y — _ ($19,00' 010 01030005 800000 Finance Admin - Operational Savings ($205,814.00) I 010 01040005 800000 Fire Administration - Operational Savings r ($388,000.00)! 010 01026005 800000 Human Resources Operational vings _ _------ — ($108,822.00)1' 010 01060005 800000 _ I — ---—'; Library Admn peraa Operational Savings �� -- 010 01035351 800000 — - Police Chief - Operational Savings ----------------------- ($675,648.00) 010 01080005 800000 Public Works Admin - Operational Savings - ($1,221,944.00) 010 01070005 t 800000 Recreation Admin - Operational Savings ($847,102.00)! 010 0101 9062 800000 Storm Drains/Street Sweeping - Operational Savings ($250,000.00)1 010 101099 _ 01099 991750 _ General Fund Interfund Transfr - Transfer Out Work Comp Fu t _ ($2,000,000.00) 010 01099 991754 General Fund Interfund Transfr - Transfer Out 800 Mhz Radio ($500,000.00j 010 1010 _ 01099 01099 — - — 991012 I 991101General General Fund Interfund Transfr - Transfer Out CIP Fund Fund Interfund Transfr - Transfer Out Tideland Harbr — — ($81,588.00)! --- ($85,061.00) 1010 _ __ 01099 _ _ 991513 _ General Fund Interfund Transfr - Transfer Out FFP !General Fund Interfund Transfr Transfer Nbr Enhancem _ _ (3104,874.00) _ ! 1010 01099 _ _ 991536_ i _ ' - Out _ - ^^ !G— _ $45,391.00 010 01099 -- — (991571 t --r e�und InterfundTransfr- TransferOutFacilitiesMaint — --- — --- -- — - - - - -- — ($198,609.00)+ 1100 10099 1991010 _ j - _ lnterfUnd Transfers - Transfer Out General Fund $748,655.00 —— Subtotall. $ ..__..-_.__.-_._.....61989,576_00) FUND BALANCE Fund # Object Description Increase or (Decrease) $ 010300000 - Fund _Fund Balance _ _ _ _- _ _ -_ Control + ($5,010,444.00) 100 J300000 -!General &Submerged Lands Fund -Fund Balance Control - ($748,655.00) '750 -- 130000.0 ?—tTide ----- -- — - - _-r iWorkers Compensation Fund - Fund Balance Control ($2,000,000_.00 754 300000 1800 MHZ-Radio Fund - Fund -Balance Control ($500,000.00): 012 11300000 'General Fund Capital Projects - Fund Balance Control ($81,588.00) 4300000 !Tidelands Harbor Cap Fund - Fund Balance Control ($85,061.00)' .101 '513 300000 lFacifities Financing Plan - Fund Balance Control ($104,874.00). 536 300000 j Neighborhood Enhancement - Fund Balance Control (S45.391:00) 571 1300000 'Facilities Maintenance - Fund Balance Control (`5198,609.00) Total ($8,774,622.00) Fund Balance Change Required 2of2 13-12