To view of the City's financial data related to the General fund budget, and quarterly year-to-date actuals, please access it at the following link, YTD Budget data.
The City of Newport Beach (City) operates on a fiscal year budget from July 1 to June 30. The City Council is required to adopt a balanced annual budget on or before June 30 of each year. The Finance Department manages the City's annual budget process. Amendments to the approved budget are prepared and adopted in accordance to Council Policy F-3.
The budget process starts with each department working with the Finance Department to develop the revenues and expenditures estimates for the coming fiscal year (referred to as the operating budget); this process normally begins in the winter. Then, the City Manager confers with each department director and the Finance Department to review and revise each department's proposed operating budget. When the City Manager has a draft of the proposed City-wide budget developed, it is first presented to the City's Finance Committee. Once the Finance Committee has vetted the operating budget, it is presented to the City Council for review.
At the same time as the operating budget is being prepared and reviewed, the City's Public Works Department is developing the Capital Improvement Program (CIP). The CIP includes the significant capital projects and infrastructure improvements planned for the upcoming fiscal year.
The adopted budget is intended to be a reflection of City policies, goals and priorities. It communicates to citizens and staff what program allocation decisions have been approved by the City Council.