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Open Budget Data Updated Through September 30, 2019

The City of Newport Beach makes financial information available to review the status of revenues and expenditures.  The online Open Budget Portal provides citizens an in-depth and friendly view of the City’s financial data including the City’s revenue sources, expenditures and the Capital Improvement Program (CIP).  The site provides users the ability to view the financial data in a table, chart or graph format.  Interactive features of the site allow for searching by departmental or other types of budget categories.  The CIP portion of the site organizes information by funding category, funding source or by project.  Users will also find project photos, the current phase of the project and a map showing the project’s location.

REVENUES 

Through September 30, 2019, the City’s General Fund has received $25.0 million, or 10.9%, of the $230.3 million of budgeted general fund revenues.  Due to the tax remittance calendar, this is a normal trend for this time of year.

The General Fund’s top three revenues sources (Property Taxes, Sales Taxes, and Transient Occupancy Tax) account for approximately 75% of all General Fund revenues. The City expects to receive $173.8 million of revenue from these three sources in FY 2019-20.

Property Tax

Property Tax is the top source of revenue for the City and represents almost half of all General Fund revenues. FY 2019-20 property taxes as a whole are budgeted to come in at $113.6 million. The City has collected about $2.0 million, or 1.7%, of budget through September 30, 2019.  This is typical as property taxes are received in large part during December and April of each fiscal year.

Sales Tax

Sales tax, the second largest revenue source for the City, is expected to finish FY 2019-20 at $35.7 million. As of September 30, 2019, the City has received $3.3 million, or 9.3%, of the sales tax budget.  As with property taxes, first quarter sales tax results are not indicative of budget performance by year-end. 

Transient Occupancy Taxes

Transient Occupancy Taxes (TOT) are budgeted at $24.5 million for FY 2019-20. The City has realized 20.3%, or $16.9 million, through September 30, 2019.

Click link to view an interactive snapshot of General Fund revenues through September 30, 2019.

EXPENDITURES

As of September 30, 2019, General Fund expenditures totaled $41.7 million, which represents 18.8% of the $222.5 million revised budget.

Click link to view an interactive snapshot of General Fund expenditures through September 30, 2019.

Note: Open budget data is refreshed on a monthly basis and does not remain static.  The narrative above represents the status of General Fund revenues and expenditures through September 30, 2019, and may not match data accessed subsequent to this time.

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