15-POINT FISCAL SUSTAINABILITY PLAN
for Newport Beach City Government
- The City will proactively seek to protect and expand its tax base by encouraging a
healthy underlying local economy.
- The City will work to enhance and protect the property values of all Newport Beach
residents and property owners.
- The City will encourage shopping, dining, and visiting at Newport Beach stores,
restaurants, and hotels.
- The City will establish and maintain appropriate cash reserves.
- The City will manage its Facilities Finance Plan to not exceed the 5% of General Fund
- 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.
- 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.
- The City will implement a Performance Measurement/Management Strategy as part of
an ongoing effort to ensure high-quality and efficient performance.
- The City will consider competitive contracting of services and equipment when
appropriate and where clear, cost-effective alternatives exist.
- The City will make it a priority to be energy efficient in its provision of public services.
- 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
- 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.
- 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.
- The City will vigorously defend itself and its taxpayers against frivolous lawsuits.
- 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.