HomeMy WebLinkAboutFinance Committee - May 24, 2018CITY OF NEWPORT BEACH
FINANCE COMMITTEE AGENDA - Final
100 Civic Center Dr. - Crystal Cove Conf. Rm, Bay 2D & Teleconference
Location Pursuant to GC§54953(b): 20 Columbia PL, Brooklyn, NY 11201
Thursday, May 24, 2018 - 3:00 PM
Finance Committee Members:
Diane Dixon, Chair / Council Member
Will O'Neill, Mayor Pro Tem
Kevin Muldoon, Council Member
William Collopy, Committee Member
Patti Gorczyca, Committee Member
Joe Stapleton, Committee Member
Larry Tucker, Committee Member
Staff Members:
Dave Kiff, City Manager
Carol Jacobs, Assistant City Manager
Dan Matusiewicz, Finance Director / Treasurer
Steve Montano, Deputy Director, Finance
Marlene Burns, Administrative Specialist to the Finance Director
The Finance Committee meeting is subject to the Ralph M. Brown Act. Among other things, the Brown Act requires that
the Finance Committee agenda be posted at least seventy-two (72) hours in advance of each regular meeting and that
the public be allowed to comment on agenda items before the Committee and items not on the agenda but are within
the subject matter jurisdiction of the Finance Committee. The Chair may limit public comments to a reasonable amount
of time, generally three (3) minutes per person.
The City of Newport Beach’s goal is to comply with the Americans with Disabilities Act (ADA) in all respects. If, as an
attendee or a participant at this meeting, you will need special assistance beyond what is normally provided, we will
attempt to accommodate you in every reasonable manner. Please contact Dan Matusiewicz, Finance Director, at least
forty-eight (48) hours prior to the meeting to inform us of your particular needs and to determine if accommodation is
feasible at (949) 644-3123 or dmatusiewicz@newportbeachca.gov.
NOTICE REGARDING PRESENTATIONS REQUIRING USE OF CITY EQUIPMENT
Any presentation requiring the use of the City of Newport Beach’s equipment must be submitted to the Finance
Department 24 hours prior to the scheduled meeting.
I.CALL MEETING TO ORDER
II.ROLL CALL
III.PUBLIC COMMENTS
Public comments are invited on agenda and non-agenda items generally considered to be
within the subject matter jurisdiction of the Finance Committee. Speakers must limit comments
to three (3) minutes. Before speaking, we invite, but do not require, you to state your name for
the record. The Finance Committee has the discretion to extend or shorten the speakers’ time
limit on agenda or non-agenda items, provided the time limit adjustment is applied equally to all
speakers. As a courtesy, please turn cell phones off or set them in the silent mode. NOTE:
PURSUANT TO GOVERNMENT CODE SECTION 54953(b), THIS MEETING WILL
INCLUDE TELECONFERENCE PARTICIPATION BY CHAIR DIANE DIXON FROM THE
ADDRESS LISTED ON THE FIRST PAGE. THE NOTICE AND AGENDA WILL BE POSTED
AT THE TELECONFERENCE LOCATION AND PUBLIC COMMENT FROM SUCH
ADDRESS SHALL BE ALLOWED.
IV.CURRENT BUSINESS
May 24, 2018
Page 2
Finance Committee Meeting
FINANCE COMMITTEE BUDGET RECOMMENDATION(S) TO COUNCILA.
Summary:
The Finance Committee has had the opportunity to review the City Manager’s
2018-2019 proposed budget documents since April 10, 2018. City staff has
presented brief power point presentations to Finance Committee summarizing the
budget, addressing committee questions and provided a variance analysis of the
budget. Staff will be available to answer any further questions the Committee may
have pertaining to the 2018-2019 Proposed Budget.
Recommended Action:
Make written recommendation(s) to the Council concerning the City Manager’s
2018-2019 Proposed Budget.
UPTOWN NEWPORT COMMUNITY FACILITIES DISTRICT (CFD) UPDATEB.
Summary:
The Uptown Newport development agreement stated that staff would work
cooperatively to form a CFD to finance the undergrounding of overhead electrical
power transmission lines. Staff will brief the Finance Committee on the topic as the
project appears to be moving forward for Council consideration soon. The proposed
financing is secured by the real property currently owned by the developer(s). The is
“No-Commitment Debt” meaning neither the faith nor credit of the City of the Newport
Beach will be pledged as collateral or as a further backstop for the proposed
financing.
Recommended Action:
Receive and file.
WORK PLAN REVIEWC.
Summary:
Staff will review with the Committee the agenda topics scheduled for the remainder
of the calendar year.
Recommended Action:
Receive and file.
V.FINANCE COMMITTEE ANNOUNCEMENTS ON MATTERS WHICH MEMBERS
WOULD LIKE PLACED ON A FUTURE AGENDA FOR DISCUSSION, ACTION OR
REPORT (NON-DISCUSSION ITEM)
VI.ADJOURNMENT
5/23/2018
Budget
Department/Account Number/Description Increase (Decrease)Approved
Budget
Fund Transfers Increase (Decrease)ApprovedGeneral Fund Transfer to Equipment Fund
Funds for work boat for Harbor Department 150,000$
Total Recommended Fund Transfers 150,000$
Budget
Department/Account Number/Description Increase (Decrease)Approved
City Manager
Title change and salary range adjustment for Deputy City Manager position 9,010$
Add .5 FTE Administrative Analyst 36,349$
Community Development
Add Life Safety Specialist III at .75 FTE 76,797$
Finance Department
-$
Fire Department
Upgrade Firefighter to Firefighter/Paramedic on Engine 65 - Corona Del Mar 48,785$
Harbor Department
281,448$
Police Department
Add 3 Community Services Officer positions to address jail needs related to female detainees 225,000$
Remove 2 Motorcycle Police Officers from Proposed Budget (280,187)$
Add 1 Police Officer designated for school outreach 140,093$
537,295$
Budget
Department/Account Number/Description Increase (Decrease)Approved
800 MHz
Increase to system backbone cost per County memorandum 36,837$
Equipment
Work boat for new Harbor Department 150,000$
Harbor Department
Remove funding for the Marina Park contract (183,000)$
Municipal Operations
Sidewalk steam cleaning (McFadden Square, Oceanfront, Lido Bridge) & plexiglass cleaning on Coast Hwy 25,000$ Increased cost for restroom portering due to new contract and additional service days.47,360$
Quarterly steam cleaning of sidewalks on Balboa Island 13,800$
Additional costs for Park West maintenance contract 80,000$
Police Department Equipment Fund
Remove funding for two (2) Motorcycles for previous requested Motor Officers (72,000)$ Add new vehicle for designated school outreach Police Officer 43,403$
141,400$
678,695$
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET BY FUNDGeneral Fund 422,007$ Tidelands Operating Fund 98,448$
Equipment Fund 158,240$
Total Changes to the Proposed Operating Budget 678,695$
BudgetDepartment/Account Number/Description Increase (Decrease)Approved
Additions to Proposed Capital Improvement Program Budget
10001 - 980000 - 19M13 Funds for Sea Level Rise Study 67,000$
12101 - 980000 - 17R21 Irvine Ave Pavement Rehab 328,200$
1230053-980000-17T13 Balboa Peninsula Summer Trolley 10,450$
53501-980000-19R11 Balboa Boulevard Median Improvements 250,000$
55101-980000-19F14 Marina Park Office Modifications 75,000$
70201932-980000-17R21 Irvine Ave Pavement Rehab 170,000$ 900,650$
TOTAL CHANGES TO THE PROPOSED CIP BUDGET BY FUND
Tidelands 67,000$
Gas Tax 328,200$
Measure M 10,450$
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET - PERSONNEL AND M&O
CHANGES TO THE PROPOSED BUDGET AS PRINTED - CIP EXPENDITURES
TOTAL CHANGES TO THE PROPOSED CIP BUDGET
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET - M&O
Budget Checklist - Amendments to the Proposed BudgetFiscal Year 2018-19
RECOMMENDED FUND TRANSFERS
CHANGES TO THE PROPOSED BUDGET AS PRINTED - PERSONNEL RELATED
Change classification of a Fiscal Clerk position to a Senior Fiscal Clerk position and a Buyer position to a Senior Buyer
position in order to restructure warehouse operations. No additional appropriation needed; sufficient funding in proposed budget.
Increased staffing which adds 5 fulltime positions & removes 3 part-time (full-time equivalent) positions (total staffing
recommended at 7 full-time which includes 2 already authorized full-time positions & 5 part-time (FTE))
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET - PERSONNEL RELATED
CHANGES TO THE PROPOSED BUDGET AS PRINTED - MAINTENANCE & OPERATIONS
Item No. 4A1Finance Committee Budget Recommendations to CouncilAdditional Materials Received
May 24, 2018
Balboa Village 250,000$
Marina Park 75,000$
Water Capital Distribution/Pipeline (NMP)170,000$
Total CIP Changes 900,650$
Budget
Department/Account Number/Description Increase (Decrease)Approved
Fiscal Year 2017-18 Rebudgets
01201926 - 980000 - 18D02 Storm Drain Repairs 151,909$ 01201927 - 980000 - 15L01 Landscape Enhancement 49,863$ 01201927 - 980000 - 15R18 Alley Reconstruction 222,635$
01201927 - 980000 - 15R18 Alley Reconstruction (to 15R20)(200,000)$
01201927 - 980000 - 15R19 Old Newport/ PCH Modifications 11,244$
01201927 - 980000 - 15R20 Park Ave Bridge Replacement (from 15R18)200,000$
01201927 - 980000 - 15R20 Park Ave Bridge Replacement 43,655$ 01201927 - 980000 - 15T09 Lower Sunset View Park / Overcrossings 157,803$ 01201927 - 980000 - 16V11 Streetlight Replacement (to 17V02)(101,228)$ 01201927 - 980000 - 17V02 Streetlight Replacement (16V11)101,228$ 01201927 - 980000 - 17V01 Streetlight Replacement (17V01)(40,000)$ 01201927 - 980000 - 17V02 Streetlight Replacement (17V01)40,000$ 01201927 - 980000 - 17V02 Streetlight Replacement 618,886$
01201927 - 980000 - 18R04 Slurry Seal FY17/18 129,600$
01201927 - 980000 - 18T01 Traffic Signal Rehabilitation (3,373)$
01201927 - 980000 - 18T02 Transportation Management/Modernization 77,435$
01201927 - 980000 - 18T03 Balboa Peninsula Crossings 67,130$
01201927 - 980000 - 19L01 Landscape Enhancement (from 17P14)200,000$
01201928 - 980000 - 16M15 Affordable Housing (13,833)$
01201928 - 980000 - 17X11 Big Canyon Pond 20,000$
01201929 - 980000 - 17P14 Veterans Park Modification (to 19L01)(200,000)$
01201939 - 980000 - 17P15 Newport Elementary Playfield 92,464$
10001 - 980000 - 16X11 Arches Storm Dr Diversion (8,006)$
10001 - 980000 - 17H03 Ocean Piers Maintenance 235,387$
10001 - 980000 - 18X02 TMDL Water Quality Improvements (96,206)$
12101 - 980000 - 15R19 Old Newport/ PCH Modifications 20,218$
12101 - 980000 - 18R22 Marguerite Hospital Pavement Rehab (4,000)$
12201 - 980000 - 18R23 Marguerite Hospital Pavement Rehab (240,969)$
1230052 - 980000 - 15X11 Bayview Hgts Drainage / Runoff Treatment (30,078)$
13501 - 980000 - 15R20 Park Ave Bridge Replacement 395,140$
14101 - 980000 - 16P12 Park Walls and Staircases 177,406$
14101 - 980000 - 18P01 Playground Rehabilitation 37,170$
53201 - 980000 - 15F12 Fire Station 5 / Library Reconstruction CdM 177,969$
53201 - 980000 - 15F13 Fire Station 2 Lido (42,815)$
53501 - 980000 - 17R11 Balboa Village Streetscape (19,075)$ 53601 - 980000 - 18L11 West Coast Hwy Medians 348,000$ 56101-980000-15P18 Sunset Ridge Park 86,689$ 57101 - 980000 - 17F11 Fire Station Remodels 67,899$
65002 - 941006 - 17A01 Assessment District Costs 150,000$
70101 - 980000 - 17W02 Water Master Plan Update 32,691$
70201931 - 980000 - 16W14 Lido Village Water Main Replacement 153,982$
70201932 - 980000 - 16W13 Big Canyon Reservoir Flow Metering and Treatment 181,611$ SUBTOTAL CAPITAL PROJECTS REBUDGETS 3,248,430$
CAPITAL IMPROVEMENT PROGRAM REBUDGET BY FUND
General Fund CIP 1,625,417$
Assessment Districts 150,000$
Balboa Village Parking Management District (19,075)$
Building Excise Tax Fund 214,576$
Contributions Fund 395,140$ Facilities Maintenance Fund 67,899$
Fire Stations Fund 135,154$
Measure M Fund (240,969)$
Measure M Competitive Fund (30,078)$
Neighborhood Enhancement 348,000$
State Gas Tax Fund 16,218$
Sunset Ridge Park 86,689$
Tidelands Maintenance Fund 131,175$
Water Enterprise 32,691$
Water Capital Fund 335,594$ Total CIP Rebudgets by Fund 3,248,430$
4,149,080$
CAPITAL IMPROVEMENT PROGRAM
TOTAL CHANGES TO THE PROPOSED CIP BUDGET
Pursuant to Section 1102 of the Newport Beach City Charter, and Council Policy F-3 titled Budget
Adoption and Administration, the Proposed Budget for the 2018-2019 Fiscal Year was first
submitted to the City Council and made available to Finance Committee and the public on April
10, 2018. The Finance Committee members sought to gain context and understanding of select
City departments in advance of the Fiscal Year 2018-2019 budget. The Committee received
explanations about the 2017-2018 Adopted Budget detail including salaries, benefits, contract
service accounts, and more for the Police Department on February 15, 2018 and the Fire
Department on March 15, 2018.
The Finance Committee met to review the proposed budget on April 12, May 10, and May 24,
2018. A joint meeting of the Finance Committee and the City Council was held on May 22, 2018,
to review the proposed budget. The Committee reviewed various aspects of the Fiscal Year 2018-
2019 budget including, revenue and expenditure projections, trends, the nature of budget
variances from prior years, and discussed our current pension funding strategy.
On May 24, 2018, the Finance Committee finalized their review of the Fiscal Year 2018-2019
Proposed Budget. A motion was made to approve the City Manager’s Proposed Budget for
consideration by the City Council and was carried _-_-_, with Committee Members __, ___ and
___ absent.
Item No. 4A2Finance Committee Budget Recommendations to CouncilAdditional Materials ReceivedMay 24, 2018
5/23/2018
Budget
Department/Account Number/Description Increase (Decrease)Approved
Budget
Fund Transfers Increase (Decrease)ApprovedGeneral Fund Transfer to Equipment Fund
Funds for work boat for Harbor Department 150,000$
Total Recommended Fund Transfers 150,000$
Budget
Department/Account Number/Description Increase (Decrease)Approved
City Manager
Title change and salary range adjustment for Deputy City Manager position 9,010$
Add .5 FTE Administrative Analyst 36,349$
Community Development
Add Life Safety Specialist III at .75 FTE 76,797$
Finance Department
-$
Fire Department
Upgrade Firefighter to Firefighter/Paramedic on Engine 65 - Corona Del Mar 48,785$
Harbor Department
281,448$
Police Department
Add 3 Community Services Officer positions to address jail needs related to female detainees 225,000$
Remove 2 Motorcycle Police Officers from Proposed Budget (280,187)$
Add 1 Police Officer designated for school outreach 140,093$
537,295$
Budget
Department/Account Number/Description Increase (Decrease)Approved
800 MHz
Increase to system backbone cost per County memorandum 36,837$
Equipment
Work boat for new Harbor Department 150,000$
Harbor Department
Remove funding for the Marina Park contract (183,000)$
Municipal Operations
Sidewalk steam cleaning (McFadden Square, Oceanfront, Lido Bridge) & plexiglass cleaning on Coast Hwy 25,000$ Increased cost for restroom portering due to new contract and additional service days.47,360$
Quarterly steam cleaning of sidewalks on Balboa Island 13,800$
Additional costs for Park West maintenance contract 80,000$
Police Department Equipment Fund
Remove funding for two (2) Motorcycles for previous requested Motor Officers (72,000)$ Add new vehicle for designated school outreach Police Officer 43,403$
141,400$
678,695$
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET BY FUNDGeneral Fund 422,007$ Tidelands Operating Fund 98,448$
Equipment Fund 158,240$
Total Changes to the Proposed Operating Budget 678,695$
BudgetDepartment/Account Number/Description Increase (Decrease)Approved
Additions to Proposed Capital Improvement Program Budget
10001 - 980000 - 19M13 Funds for Sea Level Rise Study 67,000$
12101 - 980000 - 17R21 Irvine Ave Pavement Rehab 328,200$
1230053-980000-17T13 Balboa Peninsula Summer Trolley 10,450$
53501-980000-19R11 Balboa Boulevard Median Improvements 250,000$
55101-980000-19F14 Marina Park Office Modifications 75,000$
70201932-980000-17R21 Irvine Ave Pavement Rehab 170,000$ 900,650$
TOTAL CHANGES TO THE PROPOSED CIP BUDGET BY FUND
Tidelands 67,000$
Gas Tax 328,200$
Measure M 10,450$
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET - PERSONNEL AND M&O
CHANGES TO THE PROPOSED BUDGET AS PRINTED - CIP EXPENDITURES
TOTAL CHANGES TO THE PROPOSED CIP BUDGET
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET - M&O
Budget Checklist - Amendments to the Proposed BudgetFiscal Year 2018-19
RECOMMENDED FUND TRANSFERS
CHANGES TO THE PROPOSED BUDGET AS PRINTED - PERSONNEL RELATED
Change classification of a Fiscal Clerk position to a Senior Fiscal Clerk position and a Buyer position to a Senior Buyer
position in order to restructure warehouse operations. No additional appropriation needed; sufficient funding in proposed budget.
Increased staffing which adds 5 fulltime positions & removes 3 part-time (full-time equivalent) positions (total staffing
recommended at 7 full-time which includes 2 already authorized full-time positions & 5 part-time (FTE))
TOTAL CHANGES TO THE PROPOSED OPERATING BUDGET - PERSONNEL RELATED
CHANGES TO THE PROPOSED BUDGET AS PRINTED - MAINTENANCE & OPERATIONS
Item No. 4A3Finance Committee Budget Recommendations to CouncilAdditional Materials Received
May 24, 2018
Balboa Village 250,000$
Marina Park 75,000$
Water Capital Distribution/Pipeline (NMP)170,000$
Total CIP Changes 900,650$
Budget
Department/Account Number/Description Increase (Decrease)Approved
Fiscal Year 2017-18 Rebudgets
01201926 - 980000 - 18D02 Storm Drain Repairs 151,909$ 01201927 - 980000 - 15L01 Landscape Enhancement 49,863$ 01201927 - 980000 - 15R18 Alley Reconstruction 222,635$
01201927 - 980000 - 15R18 Alley Reconstruction (to 15R20)(200,000)$
01201927 - 980000 - 15R19 Old Newport/ PCH Modifications 11,244$
01201927 - 980000 - 15R20 Park Ave Bridge Replacement (from 15R18)200,000$
01201927 - 980000 - 15R20 Park Ave Bridge Replacement 43,655$ 01201927 - 980000 - 15T09 Lower Sunset View Park / Overcrossings 157,803$ 01201927 - 980000 - 16V11 Streetlight Replacement (to 17V02)(101,228)$ 01201927 - 980000 - 17V02 Streetlight Replacement (16V11)101,228$ 01201927 - 980000 - 17V01 Streetlight Replacement (17V01)(40,000)$ 01201927 - 980000 - 17V02 Streetlight Replacement (17V01)40,000$ 01201927 - 980000 - 17V02 Streetlight Replacement 618,886$
01201927 - 980000 - 18R04 Slurry Seal FY17/18 129,600$
01201927 - 980000 - 18T01 Traffic Signal Rehabilitation (3,373)$
01201927 - 980000 - 18T02 Transportation Management/Modernization 77,435$
01201927 - 980000 - 18T03 Balboa Peninsula Crossings 67,130$
01201927 - 980000 - 19L01 Landscape Enhancement (from 17P14)200,000$
01201928 - 980000 - 16M15 Affordable Housing (13,833)$
01201928 - 980000 - 17X11 Big Canyon Pond 20,000$
01201929 - 980000 - 17P14 Veterans Park Modification (to 19L01)(200,000)$
01201939 - 980000 - 17P15 Newport Elementary Playfield 92,464$
10001 - 980000 - 16X11 Arches Storm Dr Diversion (8,006)$
10001 - 980000 - 17H03 Ocean Piers Maintenance 235,387$
10001 - 980000 - 18X02 TMDL Water Quality Improvements (96,206)$
12101 - 980000 - 15R19 Old Newport/ PCH Modifications 20,218$
12101 - 980000 - 18R22 Marguerite Hospital Pavement Rehab (4,000)$
12201 - 980000 - 18R23 Marguerite Hospital Pavement Rehab (240,969)$
1230052 - 980000 - 15X11 Bayview Hgts Drainage / Runoff Treatment (30,078)$
13501 - 980000 - 15R20 Park Ave Bridge Replacement 395,140$
14101 - 980000 - 16P12 Park Walls and Staircases 177,406$
14101 - 980000 - 18P01 Playground Rehabilitation 37,170$
53201 - 980000 - 15F12 Fire Station 5 / Library Reconstruction CdM 177,969$
53201 - 980000 - 15F13 Fire Station 2 Lido (42,815)$
53501 - 980000 - 17R11 Balboa Village Streetscape (19,075)$ 53601 - 980000 - 18L11 West Coast Hwy Medians 348,000$ 56101-980000-15P18 Sunset Ridge Park 86,689$ 57101 - 980000 - 17F11 Fire Station Remodels 67,899$
65002 - 941006 - 17A01 Assessment District Costs 150,000$
70101 - 980000 - 17W02 Water Master Plan Update 32,691$
70201931 - 980000 - 16W14 Lido Village Water Main Replacement 153,982$
70201932 - 980000 - 16W13 Big Canyon Reservoir Flow Metering and Treatment 181,611$ SUBTOTAL CAPITAL PROJECTS REBUDGETS 3,248,430$
CAPITAL IMPROVEMENT PROGRAM REBUDGET BY FUND
General Fund CIP 1,625,417$
Assessment Districts 150,000$
Balboa Village Parking Management District (19,075)$
Building Excise Tax Fund 214,576$
Contributions Fund 395,140$ Facilities Maintenance Fund 67,899$
Fire Stations Fund 135,154$
Measure M Fund (240,969)$
Measure M Competitive Fund (30,078)$
Neighborhood Enhancement 348,000$
State Gas Tax Fund 16,218$
Sunset Ridge Park 86,689$
Tidelands Maintenance Fund 131,175$
Water Enterprise 32,691$
Water Capital Fund 335,594$ Total CIP Rebudgets by Fund 3,248,430$
4,149,080$
CAPITAL IMPROVEMENT PROGRAM
TOTAL CHANGES TO THE PROPOSED CIP BUDGET
I:\Users\FIN\Shared\Admin\Finance Committee\WORKPLAN\2018\2018 FC Workplan 1
Updated 05/24/2018
Scheduled Date Agenda Title Agenda Description
Tuesday, January 09, 2018 Council Study Session 9th - Economic Overview (Optional)Broad Local Economic Overview to be provided by Beacon Economics.Thursday, January 11, 2018 Risk Based Reserve Analysis Overview Consultant will provide an update and overview of the Risk -based Reserve Analysis. Consultant Overview of Property and Sales Tax Revenues Consulting specialists in Property and Sales Tax will provide an overview of revenue prospects.
Long Range Financial Forecast (LRFF)City staff will provide an update on efforts to improve the City's Long Range Financial Forecast and provide a comparative review of best practices to other
cities.Review of Finance Committee Resolution The Committee will review its objectives as set forth in Council resolution 94-110 as amended by 2017-58.Review of Finance Committee Workplan Staff will review with the Committee the agenda topics scheduled for the remainder of the fiscal year and highlight those work plan items that were carried forward from the prior fiscal year. The Committee will also consider setting up a subcommittee to review finance related Council Policies.
Monday, January, 29, 2018 Council Goal Setting Session - (FYI Only)
Thursday, February 15, 2018
Create a Subcommittee to Review Council Finance Policies The Finance Committeewillconsider the creation of a Finance Subcommitteetoreview Council Finance policies,discuss membership, scope of work andtimeline.
Risk-Based Reserve Subcommittee Update Discuss Finance Committee progress since the last meeting.
Debt Policy Review Subcommittee Update Subcommittee will discuss revisions of Debt Policy and discuss next steps.
Review of Police Department Budget to Actual Results In preparation of the2018-2019 Budget,staff will review budget assumptionsagainst actual results for Fiscal Year 2016-2017 and pertinent updatesconcerning the Fiscal Year 2017-2018 to date.
Year-End Closing Results Staff will present year-end closing results for Fiscal Year 2016-2017.
Pension Discussion
Agendaitemreserved fordiscussionregarding the status of the City's pensionliability, payment strategies, CalPERS policy updates and or advocacy efforts.
Review of Finance Committee WorkPlan
Staff will review with the Committee the agenda topics scheduled for the
remainder ofthe fiscalyear and highlight thoseworkplan items carriedforwardfromthepriorfiscalyear.The Committee will also consider setting up asubcommittee to review finance related Council Policies.MARCH
Thursday, March 15, 2018 Audit Closing The City’s external audit firm, White Nelson Diehl Evans LLP will meet with the Finance Committee to discuss the audit findings for the fiscal year ending 6/30/2017. The committee will have an opportunity to discuss any potential areas of concern and the auditors can discuss any changes in accounting standards or disclosures that were relevant for the audit year.
Harbor & Beaches Master Plan Review Harbor & Beaches Master Plan for financial solvency based on known
Council PrioritiesReview of Fire Department Budget to Actual Results In preparation of the 2018-19 Budget, staff will review budget assumptions
against actual results for fiscal year 2016-17. Facilities Financial Plan Review Facilities Financial Plan for financial solvency based on known Council Priorities
Pension Discussion
Agendaitemreserved fordiscussionregarding the status of the City's pensionliability, payment strategies, CalPERS policy updates and or advocacy efforts.
APRIL
Thursday, April 5, 2018 Submit Budget Documents to Finance Committee - Information Only ** NOT A MEETING DATE **Information Only - Not a meeting date.
Thursday, April 12, 2018 Fiscal Year 2018-19 Budget Brief Overview Staff will prepare brief presentation of key initiatives proposed in the City Manager’s Fiscal Year 2018-2019 Proposed Budget.Internal Controls Staff will prepare a brief presentation summarizing of internal and external review of internal control efforts.Reserve Policy Subcommittee Update Staff and or Subcommittee members will provide the Finance Committee a brief update on the status of the Risk-Based Reserve Study.Budget Amendments Receive and file a staff report on the budget amendments for the prior quarter.
Workplan Review Staff will review with the Committee the agenda topics scheduled for the
remainder of the calendar year. MAYThursday, May 10, 2018 Finance Committee Budget Review Staff will provide a high-level variance analysis and will address certain questions raised by the Committee during the April meeting.
Long-Range Financial Forecast Staff will provide a preview and update on the latest draft of our new Long Range Financial Forecast.
Agreed Upon Audit Procedures for Internal Control The Finance Department is working with the City’s audit firm, White Nelson Diehl Evans LLP, to develop agreed upon procedures for the audit of the City’s internal control processes and procedures. Staff will present these agreed upon procedures for the Finance Committee’s review.
Assessment District (AD) 117 Update Staff will provide an oral update on the progress of AD 117.
Uptown Newport Community Facilities District (CFD) Update Staff will provide an oral update on the progress of the Uptown Newport CFD.
Risk Based Reserve Status Update Staff will provide an oral update on the Risk Based Reserve Study being performed by the GFOA.Work Plan Review Staff will review with the Committee the agenda topics scheduled for the remainder of the calendar year.Tuesday May 22, 2018 Council Budget Study Session (Joint FC Study Session )District discretionary grants, position count changes, pensions operating budget expenditures and other topics will be covered with both the City Council and Finance Committee.
Thursday, May 24, 2018 FY 2018-19 Budget Review & Recommendation(s) to Council
Reserved For Policy Discussion(s)
JUNETuesday, June 12, 2018 Council Budget Adoption For Information Purposes Only - Not a Finance Committee Meeting Date
Reserve Policy Presentation of Draft Report: GFOA Risk Based Analysis of General Fund Reserve Requirements
Parametric Insurance (tentative)Teleconference with SwissRE and the GFOA to discuss parametric insurance options.
Water Enterpise Advanced Metering Infrastructure Financing (tentative)Discussion with Acting Utilties Director to discuss financing plan for advanced metering infrastructure (AMI). AMI s an integrated system of smart meters, communications networks, and data management systems that enables two-way communication between utilities and customers.
Thursday June 14, 2018 Reserved For Policy Discussion(s)Master Fee Schedule Staff will present the Master Fee Schedule to the Finance Committee and subsequently will present to the City Council at the July 24, 2018, meeting.Workplan Review Staff will review with the Committee the agenda topics scheduled for the
remainder of the calendar year.
JANUARY
FEBRUARY
City of Newport Beach Finance Committee Work Plan 2017-18
Item No. 4C1Work Plan Review
Additional Materials ReceivedMay 24, 2018