HomeMy WebLinkAboutApproved Minutes - May 31, 2023Finance Committee Meeting Minutes May 31, 2023
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CITY OF NEWPORT BEACH FINANCE COMMITTEE MAY 31, 2023 SPECIAL MEETING MINUTES I. CALL MEETING TO ORDER The special meeting was called to order at 2:00 p.m. II. ROLL CALL PRESENT: Will O’Neill, Chair
Joe Stapleton, Council Member Allen Cashion, Committee Member Nancy Scarbrough, Committee Member
ABSENT: Noah Blom, Mayor (excused) Keith Curry, Committee Member (excused)
William Collopy, Committee Member (excused) STAFF PRESENT: Grace K. Leung, City Manager; Jason Al-Imam, Finance Director/Treasurer; Michael Gomez, Deputy Finance Director; Shelby
Burguan, Budget Manager; Jessica Nguyen, Budget Analyst; Eric Wilson, Budget Analyst; Raymund Reyes, Administrative Manager/Fire
Department; Theresa Schweitzer, Public Works Finance/Administrative Manager; and Brittany Cleberg, Administrative Assistant
MEMBERS OF THE PUBLIC: Jim Mosher
William Kroener
OTHER ENTITIES: III. PUBLIC COMMENTS ON CONSENT CALENDAR
Chair O’Neill opened public comments on the consent calendar and non-agenda items. Seeing none, Chair O’Neill closed public comments.
IV. CONSENT CALENDAR
A. MINUTES OF APRIL 13, 2023 Recommended Action: Approve and file.
Chair O’Neill acknowledged the receipt of proposed amendments to the minutes submitted by
Jim Mosher. MOTION: Committee Member Scarbrough moved to approve the minutes of April 13, 2023, as amended, seconded by Council Member Stapleton. The motion carried as follows:
AYES: Cashion, Scarbrough, Stapleton, O’Neill
NOES: None ABSENT: Blom, Curry, Collopy ABSTAIN: None
Finance Committee Meeting Minutes May 31, 2023
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V. CURRENT BUSINESS A. FINANCE COMMITTEE RECOMMENDATION TO THE CITY COUNCIL FOR THE FISCAL YEAR 2023-24 OPERATING BUDGET Recommended Action: It is recommended that the Finance Committee consider recommending that the City Council consider approval of the Proposed Operating Budget for Fiscal Year 2023-24.
City staff provided a brief report and presentation with the summary of all funds, expenditures and General Fund sources and uses. There have been no changes to the Fiscal Year 2023-24 operating budget subsequent to its presentation to the Finance Committee at their earlier May meeting.
City Manager Grace Leung recommended an allocation of $10 million from the budget surplus, which includes a $5 million appropriation at the time of budget adoption to bring the total paid to CalPERS towards the City’s unfunded pension liability to $45 million and to set-aside $5 million in additional funds for future capital needs.
Chair O’Neill opened public comment. Bill Kroener suggested utilizing the anticipated surplus to fund an updated historical survey of the City, as the last survey was conducted in 1988, and was inadequate, from his perspective in that it did not identify critical elements such as the Ferry. Jim Mosher commented on inconsistencies in the proposed budget, from Department to Department, such as the costs for supplies and materials. He requested clarification as to how part-time and full-time employees are stated in the budget, as the fractional equivalents are hard to interpret. He also requested clarification on the cost allocation provisions between Department and services. Chair O’Neill closed public comment. MOTION: Committee Member Cashion moved to forward the proposed FY 2023-24 operating budget, as recommended by the City Manager to the City Council, seconded by Committee Member Scarbrough. The motion carried as follows: AYES: Cashion, Scarbrough, Stapleton, O’Neill NOES: None ABSENT: Blom, Curry, Collopy ABSTAIN: None B. WORK PLAN REVIEW Recommended Action: Receive and file. Committee discussion ensued regarding the July 26, 2023, proposed date for the Finance Committee special meeting, citing the report which would be presented concerning utility rates. Chair O’Neill commented that the Finance Committee members are only appointed for the duration of the fiscal year and would need to be reappointed for the upcoming fiscal year if they are interested in continuing service. He suggested the non-Council member appointees discuss their interest in continuing service with their respective Council members who appointed them. He reminded staff to ensure the item for appointing Finance Committee members is placed on the applicable City Council agenda. Committee discussion ensued on the various items scheduled for the upcoming months, as detailed in the agenda report. The next City Council meeting is scheduled for June 13, 2023, which will include consideration of the FY 2023-24 budget adoption.