Attachment A - Financial Report — Newport Beach City Council, February 11, 2025 (part 2 of 2)

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS Last Ten Fiscal Years

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
Last 10 Years
Defined Benefit Plan for Miscellaneous Employees
The figures above generally include any liability impact that may have resulted from voluntary benefit changes that occurred on or before the Measurement Date. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the Valuation Date are not included in the figures above, unless the liability impact is deemed to be material by the plan actuary. In 2022, SB 1186 increased the standard retiree lump sum death benefit from $500 to $2,000 for any death occuring on or after July 1, 2023. The impact, if any, is included in the changes of benefit terms.

Effective with the June 30, 2021 valuation date (2022 measurement date), the accounting discount rate was reduced from 7.15% to 6.90%. In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. The accounting discount rate was 7.15% for measurement dates June 30, 2017 through June 30, 2021, 7.65% for measurement dates June 30, 2015 through June 30, 2016, and 7.50% for measurement date June 30, 2014. 146
11-156
2019 2018 2017 2016 2015
Measurement Period June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 Total Pension Liability
Service cost 7,334,861$ 7,151,754$ 6,303,642$ 6,087,960$ 6,523,874$ Interest on total pension liability 28,226,598 27,069,673 26,375,073 25,427,094 24,624,559 Differences between expected and actual experience 2,243,854 (4,912,853) (2,686,814) (4,736,006) - Changes in assumptions (2,522,093) 22,616,424 - (6,309,248) - Changes in benefits - - - - - Benefit payments, including refunds of employee contributions (18,458,539) (17,249,398) (16,714,022) (16,374,370) (15,290,340) Net Change in Total Pension Liability 16,824,681 34,675,600 13,277,879 4,095,430 15,858,093 Total Pension Liability - beginning 400,617,677 365,942,077 352,664,198 348,568,768 332,710,674 Total Pension Liability - ending (a) 417,442,358$ 400,617,677$ 365,942,077$ 352,664,198$ 348,568,767$ Plan Fiduciary Net Position
Contributions - employer 15,797,595$ 10,509,243$ 9,904,636$ 6,615,920$ 5,793,768$ Contributions - employee 3,979,337 4,134,130 4,206,942 4,321,646 4,319,336 Net investment income 23,855,196 28,349,491 1,241,432 5,687,908 38,237,161 Administrative expense (435,499) (375,172) (155,791) (287,862) - Other miscellaneous income/(expense) (827,021) - - - - Plan to plan resource movement (700) - (2,387) 26,981 - Benefit payments (18,458,539) (17,249,
398) (16,714,022) (16,374,370) (15,290,340) Net change in Plan Fiduciary Net Position 23,910,369 25,368,294 (1,519,190) (9,777) 33,059,925 Plan Fiduciary Net Position - beginning 279,475,247 254,106,953 255,626,143 255,635,920 222,575,995 Plan Fiduciary Net Position - ending (b) 303,385,616$ 279,475,247$ 254,106,953$ 255,626,143$ 255,635,920$ Net pension liability - ending (a)-(b) 114,056,742$ 121,142,430$ 111,835,124$ 97,038,055$ 92,932,847$ Plan fiduciary net position as a percentage of the total pension liability 72.68% 69.76% 69.44% 72.48% 73.34% Covered payroll 41,468,634$ 41,727,563$ 40,031,404$ 38,512,011$ 37,775,051$ Net pension liability as percentage of covered payroll 275.04% 290.32% 279.37% 251.97% 246.02%

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS Last Ten Fiscal Years

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
Last 10 Years
Defined Benefit Plan for Miscellaneous Employees

Page 2 of 2 ends

147
11-157
2024 2023 2022 2021 2020
Actuarially determined contribution 15,211,001$ 15,250,219$ 14,432,250$ 14,600,178$ 13,080,630$ Contributions in relation to the actuarially determined contributions (21,537,720) (20,794,397) (18,372,473) (18,730,840) (16,351,592) Contribution deficiency (excess) (6,326,719)$ (5,544,178)$ (3,940,223)$ (4,130,662)$ (3,270,962)$ Covered payroll 50,824,016$ 48,099,822$ 45,210,057$ 44,809,856$ 43,902,594$ Contributions as a percentage of covered payroll 42.38% 43.23% 40.64% 41.80% 37.25% Notes to Schedule:

Valuation date: 06/30/2021 06/30/2020 06/30/2019 06/30/2018 06/30/2017 Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry age Entry age Entry age Entry age Entry age Amortization method (1) (1) (1) (1) (1)
Asset valuation method Market Value Market Value Market Value Market Value Market Value Inflation 2.30% 2.50% 2.50% 2.50% 2.625%
Salary increases (2) (2) (2) (2) (2)
Investment rate of return 6.80% (3) 7.00% (3) 7.00% (3) 7.00% (3) 7.25% (3) Retirement age (4) (4) (4) (4) (4)
Mortality (5) (5) (5) (5) (5)
(1) Level percentage of payroll for bases established prior to June 30, 2019 and level dollar amount for bases established after June 30, 2019 (2) Depending on age, service, and type of employment
(3) Net of pension plan investment and administrative expense; includes inflation (4)
(5)

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
Last 10 Years
Retirement assumptions are based on retirement rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board Mortality assumptions are based on mortality rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board Defined Benefit Plan for Miscellaneous Employees

SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years

Page 1 of 2 ends

148
11-158
2019 2018 2017 2016 2015
Actuarially determined contribution 12,374,026$ 11,924,053$ 10,412,963$ 9,943,342$ 7,117,065$ Contributions in relation to the actuarially determined contributions (15,713,898) (15,742,587) (10,412,963) (9,943,342) (7,117,065) Contribution deficiency (excess) (3,339,872)$ (3,818,534)$ -$ -$ -$ Covered payroll 42,153,383$ 41,468,634$ 41,727,563$ 40,031,404$ 38,512,011$ Contributions as a percentage of covered payroll 37.28% 37.96% 24.95% 24.84% 18.48% Notes to Schedule:

Valuation date: 06/30/2016 06/30/2015 06/30/2014 06/30/2013 06/30/2012 Methods and assumptions used to determine contribution rates:

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
Last 10 Years
Defined Benefit Plan for Miscellaneous Employees

Page 2 of 2 ends

SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years
149
11-159
2024 2023 2022 2021 2020
Measurement Period June 30, 2023 June 30, 2022 June 30, 2021 June 30, 2020 June 30, 2019 Total Pension Liability
Service cost 10,727,817$ 10,918,046$ 9,817,913$ 9,622,985$ 9,292,715$ Interest on total pension liab ility 45,793,334 43,860,290 42,760,906 41,449,511 40,081,524 Differences between expected and actual experience 9,833,536 (3,451,985) 196,690 957,686 4,798,077 Changes in assumptions - 22,634,816 - - - Changes in benefits 268,557 - - - - Benefit payments, including refunds of employee contributions (37,885,623) (35,654,758) (33,765,218) (32,285,653) (30,443,097) Net Change in Total Pension Liability 28,737,621 38,306,409 19,010,291 19,744,529 23,729,219 Total Pension Liability - beginning 667,148,312 628,841,903 609,831,612 590,087,083 566,357,864 Total Pension Liability - ending (a) 695,885,933$ 667,148,312$ 628,841,903$ 609,831,612$ 590,087,083$ Plan Fiduciary Net Position
Contributions - employer 35,285,332$ 32,394,203$ 32,367,091$ 28,539,301$ 28,344,445$ Contributions - employee 3,577,340 3,417,660 3,347,740 3,249,005 3,162,044 Net investment income 28,993,124 (38,537,209) 93,813,435 19,685,354 24,254,890 Administrative expense (345,814) (317,056) (413,178) (556,832) (263,991) Plan to plan resource movement - - - - (1,570) Benefit payments (37,885,623) (35,654,758) (33,765,218) (32,285,653) (30,443,097) Other miscellaneous income/(expense) - - - - 855 Net chan
ge in Plan Fiduciary Net Position 29,624,359 (38,697,160) 95,349,870 18,631,175 25,053,576 Plan Fiduciary Net Position - beginning 470,269,260 508,966,420 413,616,550 394,985,375 369,931,799 Plan Fiduciary Net Position - ending (b) 499,893,619$ 470,269,260$ 508,966,420$ 413,616,550$ 394,985,375$ Net pension liability - ending (a)-(b) 195,992,314$ 196,879,052$ 119,875,483$ 196,215,062$ 195,101,708$ Plan fiduciary net position as a percentage of the total pension liab ility 71.84% 70.49% 80.94% 67.82% 66.94% Covered payroll 36,538,774$ 35,231,003$ 34,863,204$ 34,279,062$ 33,935,043$ Net pension liability as percentage of covered payroll 536.40% 558.82% 343.85% 572.40% 574.93% Notes to Schedule:

Benefit Changes:

Change in Assumptions:

The figures above generally include any liab ility impact that may have resulted from voluntary benefit changes that occurred on or before the Measurement Date. However, offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes) that occurred after the Valuation Date are not included in the f igures above, unless the liab ility impact is deemed to be material by the plan actuary. In 2022, SB 1168 increased t he standard retiree lump sum death benefit from $500 to $2,000 for any death occurring on or after July 1, 2023. The impact, if any, is included in the changes of benefit terms.

Page 1 of 2 ends

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS Last Ten Fiscal Years

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
Last 10 Years
Defined Benefit Plan for Safety Employees
150
11-160
2019 2018 2017 2016 2015
Measurement Period June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 Total Pension Liability
Service cost 9,223,465$ 9,015,985$ 8,075,553$ 8,077,826$ 8,091,585$ Interest on total pension liab ility 38,458,387 37,083,966 36,239,226 35,098,055 33,807,462 Differences between expected and actual experience 3,278,018 (2,192,667) (1,613,985) (316,827) - Changes in assumptions (1,630,045) 30,110,384 - (8,359,009) - Changes in benefits - - - - - Benefit payments, including refunds of employee contributions (29,183,598) (28,074,414) (27,447,982) (25,838,982) (24,529,802) Net Change in Total Pension Liability 20,146,227 45,943,254 15,252,812 8,661,063 17,369,245 Total Pension Liability - beginning 546,211,637 500,268,383 485,015,571 476,354,508 458,985,263 Total Pension Liability - ending (a) 566,357,864$ 546,211,637$ 500,268,383$ 485,015,571$ 476,354,508$ Plan Fiduciary Net Position
Contributions - employer 26,779,897$ 19,260,537$ 18,496,776$ 21,529,513$ 12,089,637$ Contributions - employee 3,104,318 2,967,318 2,826,831 2,969,503 3,122,237 Net investment income 29,064,749 34,814,011 1,561,480 7,049,577 47,151,493 Administrative expense (532,480) (462,427) (193,780) (357,866) - Plan to plan resource movement (855) - 2,387 - - Benefit payments (29,183,598) (28,074,414) (27,447,982) (25,838,982) (24,529,802) Other miscellaneous income/(expense) (1,011,188) - - - - Net ch
ange in Plan Fiduciary Net Position 28,220,843 28,505,025 (4,754,288) 5,351,745 37,833,565 Plan Fiduciary Net Position - beginning 341,710,956 313,205,931 317,960,219 312,608,474 274,774,909 Plan Fiduciary Net Position - ending (b) 369,931,799$ 341,710,956$ 313,205,931$ 317,960,219$ 312,608,474$ Net pension liability - ending (a)-(b) 196,426,065$ 204,500,681$ 187,062,452$ 167,055,352$ 163,746,034$ Plan fiduciary net position as a percentage of the total pension liab ility 65.32% 62.56% 62.61% 65.56% 65.63% Covered payroll 32,866,620$ 32,450,020$ 30,816,246$ 30,189,633$ 29,944,665$ Net pension liability as percentage of covered payroll 597.65% 630.20% 607.03% 553.35% 546.83%

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SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS Last Ten Fiscal Years

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
Last 10 Years
Defined Benefit Plan for Safety Employees
151
11-161
2024 2023 2022 2021 2020
Actuarially determined contribution 25,872,229$ 25,952,201$ 25,115,878$ 25,341,788$ 22,980,289$ Contributions in relation to the actuarially determined contributions (36,635,838) (35,283,235) (32,317,538) (32,251,903) (28,531,744) Contribution deficiency (excess) (10,763,609)$ (9,331,034)$ (7,201,660)$ (6,910,115)$ (5,551,455)$ Covered payroll 38,168,411$ 36,538,774$ 35,231,003$ 34,863,204$ 34,279,062$ Contributions as a percentage of covered payroll 95.98% 96.56% 91.73% 92.51% 83.23% Notes to Schedule:

Valuation date: 06/30/2021 06/30/2020 06/30/2019 06/30/2018 06/30/2017 Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry age Entry age Entry age Entry age Entry age Amortization method (1) (1) (1) (1) (1)
Asset valuation method Market Value Market Va lue Market Value Market Value Market Value Inflation 2.30% 2.50% 2.50% 2.50% 2.625%
Salary increases (2) (2) (2) (2) (2)
Investment rate of return 6.80% (3) 7.00% (3) 7.00% (3) 7.00% (3) 7.25% (3) Retirement age (4) (4) (4) (4) (4)
Mortality (5) (5) (5) (5) (5)
(1) Level percentage of payroll for bases established prior to June 30, 2019 and level dollar amount for bases established after June 30, 2019 (2) Depending on age, service, and type of employment
(3) Net of pension plan investment and adm inistrative expense; includes inflation (4)
(5)
Retirement assumptions are based on retirement rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board Mortality assumptions are based on mortality rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board

Page 1 of 2 ends

Last 10 Years
Defined Benefit Plan for Safety Employees

SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan As of June 30, 2024
152
11-162
2019 2018 2017 2016 2015
Actuarially determined contribution 22,227,698$ 21,524,636$ 19,338,360$ 18,466,207$ 13,393,374$ Contributions in relation to the actuarially determined contributions (28,346,069) (26,620,697) (19,338,360) (18,466,207) (20,993,374) Contribution deficiency (excess) (6,118,371)$ (5,096,061)$ -$ -$ (7,600,000)$ Covered payroll 33,935,043$ 32,866,620$ 32,450,020$ 30,816,246$ 30,189,633$ Contributions as a percentage of covered payroll 83.53% 81.00% 59.59% 59.92% 69.54% Notes to Schedule:

Valuation date: 06/30/2016 06/30/2015 06/30/2014 06/30/2013 06/30/2012 Methods and assumptions used to determine contribution rates:

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SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years
As of June 30, 2024
Last 10 Years
Defined Benefit Plan for Safety Employees

CITY OF NEWPORT BEACH
an Agent Multiple-Employer Defined Benefit Pension Plan 153
11-163
2024 2023 2022 2021
Measurement Period June 30, 2023 June 30, 2022 June 30, 2021 June 30, 2020 Total OPEB Liability
Service cost 635,096$ 530,843$ 529,600$ 521,285$ Interest 3,150,800 3,237,390 2,909,400 2,944,050 Differences between expected and actual experience (393,810) 1,120,534 6,159,865 (219,772) Changes in assumptions 292,126 2,473,450 (302,512) - Changes in benefits terms - - - - Benefit payments, including refunds of member contributions (4,781,574) (4,731,846) (3,786,232) (3,787,663) Net change in Total OPEB Liability (1,097,362) 2,630,371 5,510,121 (542,100) Total OPEB Liability - beginning 54,234,204 51,603,833 46,093,712 46,635,812 Total OPEB Liability - ending (a) 53,136,842$ 54,234,204$ 51,603,833$ 46,093,712$ Plan fiduciary net position
Contributions - employer 6,327,150$ 6,185,537$ 5,785,342$ 4,674,814$ Contributions - member - - - - Net investment income 2,061,410 (4,845,154) 7,184,241 900,087 Benefit payments, including refunds of member contributions (4,781,574) (4,731,846) (3,786,232) (3,787,663) Administrative expense (9,385) (9,000) (9,908) (12,037) Other expense - - - - Net change in plan fiduciary net position 3,597,601 (3,400,463) 9,173,443 1,775,201 Plan fiduciary net position - beginning 31,569,252 34,969,715 25,796,272 24,021,071 Plan fiduciary net position - ending (b) 35,166,853$ 31,569,252$ 34,969,715$ 25,796,272$ City
's Net OPEB liability - ending (a)-(b) 17,969,989$ 22,664,952$ 16,634,118$ 20,297,440$ Plan fiduciary net position as a percentage of the total OPEB liability 66.18% 58.21% 67.77% 55.96% Covered- employee payroll (1) 81,451,477$ 79,636,594 $ 78,621,426 $ 77,637,171 $ City's Net OPEB liability as percentage of covered-employee payroll 22.06% 28.46% 21.16% 26.14% Notes to Schedule:
(1) Covered-employee payroll is used because contributions are not entirely based on a measure of pay. * Fiscal year 2018 was the first year of implementation, therefore only seven years are shown.

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CITY OF NEWPORT BEACH
Post-Employment Health Care Benefits (OPEB) Retirement Plan As of June 30, 2024

SCHEDULE OF CHANGES IN THE CITY'S NET OPEB LIABILITY AND RELATED RATIOS Last 10 Years *
Last Ten Fiscal Years*
154
11-164
2020 2019 2018
Measurement Period June 30, 2019 June 30, 2018 June 30, 2017 Total OPEB Liability
Service cost 524,717$ 509,434$ 478,341$ Interest 2,795,490 2,814,685 2,830,153 Differences between expected and actual experience 2,532,319 - - Changes in assumptions 114,311 - - Changes in benefits terms - - - Benefit payments, including refunds of member contributions (3,627,695) (3,641,715) (3,513,406) Net change in Total OPEB Liability 2,339,142 (317,596) (204,912) Total OPEB Liability - beginning 44,296,670 44,614,266 44,819,178 Total OPEB Liability - ending (a) 46,635,812$ 44,296,670$ 44,614,266$ Plan fiduciary net position
Contributions - employer 4,460,937$ 4,675,193$ 4,594,772$ Contributions - member - - - Net investment income 1,495,861 1,605,114 1,875,536 Benefit payments, including refunds of member contributions (3,627,695) (3,641,715) (3,513,406) Administrative expense (4,980) (11,076) (9,452) Other expense - (25,258) - Net change in plan fiduciary net position 2,324,123 2,602,258 2,947,450 Plan fiduciary net position - beginning 21,696,948 19,094,690 16,147,240 Plan fiduciary net position - ending (b) 24,021,071$ 21,696,948$ 19,094,690$ City's Net OPEB liability - ending (a)-(b) 22,614,741$ 22,599,722$ 25,519,576$ Plan fiduciary net position as a percentage of the total OPEB liability 51.51% 48.98% 42.80% Covered- employee payroll (1) 75,814,626$ 73,999,059 $ 74,484,613 $ City's Net OPEB liability as percentage of covered-employee payroll 29.83% 30.54% 34.26%

CITY OF NEWPORT BEACH
Post-Employment Health Care Benefits (OPEB) Retirement Plan As of June 30, 2024
Last 10 Years *

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SCHEDULE OF CHANGES IN THE CITY'S NET OPEB LIABILITY AND RELATED RATIOS Last Ten Fiscal Years*
155
11-165
2024 2023 2022 2021
Actuarially determined contribution 3,289,777$ 4,359,593$ 4,124,923$ 4,108,719$ Contributions in relation to the actuarially determined contributions (12,311,540) (7,154,265) (4,950,445) (6,511,545) Contribution deficiency (excess) (9,021,763)$ (2,794,672)$ (825,522)$ (2,402,826)$ Covered-employee payroll (1) 81,451,477$ 81,451,477$ 79,636,594$ 78,621,426$ Contributions as a percentage of covered-employee payroll -15.12% -8.78% -6.22% -8.28% Notes to Schedule:

Valuation date: June 30, 2023 June 30, 2021 June 30, 2019 June 30, 2019 (1) Covered-employee payroll is used because contributions are not entirely based on a measure of pay. * Fiscal year 2018 was the first year of implementation, therefore only seven years are shown.

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CITY OF NEWPORT BEACH
Post-Employment Health Care Benefits (OPEB) Retirement Plan As of June 30, 2024
Last 10 Years *

SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years*
156
11-166
2020 2019 2018
Actuarially determined contribution 3,834,916$ 3,827,337$ 3,925,087$ Contributions in relation to the actuarially determined contributions (5,379,799) (5,133,062) (5,309,626) Contribution deficiency (excess) (1,544,883)$ (1,305,725)$ (1,384,539)$ Covered-employee payroll (1) 77,637,171$ 75,814,626$ 73,999,059$ Contributions as a percentage of covered-employee payroll -6.93% -6.77% -7.18% Notes to Schedule:

Valuation date: June 30, 2017 June 30, 2017 June 30, 2015 Last 10 Years *

SCHEDULE OF CONTRIBUTIONS
Last Ten Fiscal Years*

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CITY OF NEWPORT BEACH
Post-Employment Health Care Benefits (OPEB) Retirement Plan As of June 30, 2024
157
11-167
Variance with
Final Budget
Positive
Ori
ginal Final Actual (Negative)
Revenues:

Taxes and assessme
nts:

Property 141,373,233$ 142,715,981$ 146,136,871$ 3,420,890$ Sales 48,532,772 45,257,552 43,444,542 (1,813,010) Transient occupancy 31,986,150 31,986,150 31,736,961 (249,189) Other taxes 8,937,999 8,937,999 10,252,076 1,314,077 Intergovernmental 2,289,407 4,644,072 4,977,096 333,024 Licenses, permits and fees 5,746,027 5,746,027 5,568,126 (177,901) Charges for services 24,429,291 24,825,891 25,117,366 291,475 Fines and forfeitures 3,799,784 3,799,784 4,157,294 357,510 Investment income 1,750,000 1,750,000 3,200,616 1,450,616 Net increase in fair value of investments - - 1,652,435 1,652,435 Property income 16,025,781 17,331,591 18,970,340 1,638,749 Donations 412,300 526,151 418,774 (107,377) Other (245,007) 2,842 983,010 980,168 Total reven
ues 285,037,737 287,524,040 296,615,507 9,091,467 Expenditures:

General go
vernment:

City council 924,218 929,844 635,839 294,005 City clerk 1,191,331 1,215,050 1,097,388 117,662 City attorney 2,526,824 2,592,211 2,423,648 168,563 City manager 6,760,030 9,887,013 4,420,332 5,466,681 Finance 11,039,023 11,252,744 9,437,432 1,815,312 Human resources 3,770,070 3,826,377 3,353,986 472,391 Total gene
ral government 26,211,496 29,703,239 21,368,625 8,334,614 Public safety:

Po
lice 73,415,698 76,169,572 74,047,663 2,121,909 Fire 64,405,996 66,718,421 65,534,675 1,183,746 Total public
safety 137,821,694 142,887,993 139,582,338 3,305,655 Public works:

Pu
blic works - general services 33,861,833 36,201,348 34,286,251 1,915,097 Public works 12,732,655 13,891,663 12,986,340 905,323 Utilities 5,982,258 6,329,822 6,812,897 (483,075) Total public
works 52,576,746 56,422,833 54,085,488 2,337,345

CITY OF NEWPORT BEACH
General Fund
Budgetary
Comparison Schedule
For the Year Ended June 30, 2024
Budgeted Amounts

Page 1 of 2 ends

See accompanying notes to req
uired supplementary information
158
11-168
Variance with
Final Budget
Positive
Ori
ginal Final Actual (Negative)
Community development:

Community development 13,995,918 15,697,665 14,380,441 1,317,224 Code and water quality enforcement 941,714 967,198 1,003,722 (36,524) Total com
munity development 14,937,632 16,664,863 15,384,163 1,280,700 Community services:

Parking operations 2,227,582 2,961,404 2,316,775 644,629 Library services 10,259,001 11,114,322 10,143,264 971,058 Recreation and senior services 15,394,067 15,811,350 14,928,913 882,437 Total com
munity services 27,880,650 29,887,076 27,388,952 2,498,124 Capital outlay -
- 3,574,983 (3,574,983) Debt service:

Princi
pal - - 1,250,081 (1,250,081) Interest and fiscal charges - - 83,092 (83,092) Total debt s
ervice - - 1,333,173 (1,333,173) Total expe
nditures 259,428,218 275,566,004 262,717,722 12,848,282 Excess of
revenues
over expenditures 25,609,519 11,958,036 33,897,785 21,939,749 Other financing sources (uses):

Trans
fers in 19,020,967 26,926,241 26,926,241 - Transfers out (34,489,272) (59,400,346) (59,400,346) - Inception of leases - - 3,259,414 3,259,414 Inception of subscription-based IT arrangements - - 315,569 315,569 Total other f
inancing
sources (uses) (15,468,305) (32,474,105) (28,899,122) 3,574,983 Net cha
nge in fund balance 10,141,214 (20,516,069) 4,998,663 25,514,732 Fund balance, beginning 91,442,525 91,442,525 91,442,525 -

Fund balance, ending 101,583,739$
70,926,456$ 96,441,188$ 25,514,732$
Budgetary Comparison Schedule
General
Fund
For the Year Ended June 30, 2024

CITY OF NEWPORT BEACH
Budgeted Amounts

Page 2 of 2 ends

See accompanying notes to req
uired supplementary information
159
11-169
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental -$
6,000$ 6,481$ 481$
Licenses, permits and fees 100,200 100,200 103,338 3,138 Charges for services 12,650 12,650 38,081 25,431 Fines and forfeitures 30,000 30,000 37,902 7,902 Investment income 192,208 192,208 194,821 2,613 Net increase in fair value of investments - - 77,382 77,382 Property income 13,799,460 13,821,766 15,308,476 1,486,710 Other - - 14,041 14,041 Total revenue
s 14,134,518 14,162,824 15,780,522 1,617,698 Expenditures:

General governmen
t 516,156 516,156 516,156 - Public works 1,326,696 1,433,117 1,507,721 (74,604) Community development 2,250 5,450 20,637 (15,187) Community services 2,445,960 2,856,653 2,487,623 369,030 Capital outlay 1,975,000 4,020,459 726,928 3,293,531 Total expenditure
s 6,266,062 8,831,835 5,259,065 3,572,770

Excess
(deficiency) of revenues
over expenditures 7,868,456 5,330,989 10,521,457 5,190,468 Other financing sources:

Transfers
in 11,152,510 11,252,355 11,252,355 - Transfers out (19,020,966) (19,333,407) (19,333,407) - Total other financ
ing sources (7,868,456) (8,081,052) (8,081,052) - Net change in fu
nd balance - (2,750,063) 2,440,405 5,190,468 Fund balance, beginning 6,107,317 6,107,317 6,107,317 - Fund balance, ending 6,107,317$ 3,357,254$ 8,547,722$ 5,190,468$

CITY OF NEWPORT BEACH
Tide and Submerged Land - Operating
Budgeta
ry Comparison Schedule
For the Year Ended June 30, 2024
Budgeted Amounts
See accompanying notes to required supplementary information 160
11-170
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Investment
income 436,141$ 436,141$ 1,309,710$ 873,569$ Net increase in fair value of investments - - 790,072 790,072 Property income 5,258,302 5,258,302 6,624,712 1,366,410

Total revenues 5,694,443 5,694,443 8,724,494 3,030,051 Expenditures:

Capital outlay 3,
471,406 6,976,976 546,959 6,430,017

Excess (deficiency) of revenues
over expenditures 2,223,037 (1,282,533) 8,177,535 9,460,068 Other financing sources:

Transfers in 4,715,000 4,715,000 4,715,000 -

Net change in fund balance 6,938,037 3,432,467 12,892,535 9,460,068 Fund balance, beginning 30,214,811 30,214,811 30,214,811 -

Fund balance, ending 37,152,848$ 33,647,278$ 43,107,346$ 9,460,068$

CITY OF NEWPORT BEACH
Tide and Submerged Land - Harbo
r Capital
Budgetary Comparison Schedule
For the Year Ended June 30, 2024
Budgeted Amounts
See accompanying notes to required
supplementary information
161
11-171

CITY OF NEWPORT BEACH
Notes
to Required Supplementary Information
June 30, 2024

(1) Budgetary Control and Compliance

The City adheres to the
following general procedures in establishing the budgetary data reflected in the financial statements:

 During May, the City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them. Public hearings are conducted at City Council meetings to obtain citizen comments. Prior to July 1, the budget is legally adopted through passage of an appropriation resolution.

 Budgets are adopted on an annual basis consistent with generally accepted accounting principles for General and Special Revenue Funds, except for the Opioid Remediation Fund, for which no budget was adopted.

 The City does not present budget information on Capital Projects Funds since the City approves project-length budgets. These project-length budgets authorize total expenditures over the duration of a construction project rather than through year-by-year budgeting.

 The City does not present budget information on Debt Service and Permanent Funds since the City is not required to and does not adopt an annual budget for these funds.

 The budget is formally integrated into the accounting system and employed as a management control device during the year.

 The legal level of budgetary control is at the fund level. The City Manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions which alter the total appropriations of any fund must be approved by the City Council.

 At fiscal year-end, budget appropriations lapse. Budget appropriations for incomplete capital projects are re-budgeted in the following fiscal year by City Council action and are included in the revisions noted above. Projects that are not started during the budget year are re-evaluated in the following year.

 Encumbrances represent commitments related to unperformed contracts for goods and services. The City utilizes an encumbrance system as a management control technique to assist in controlling expenditures. Under this system, encumbrance accounting for the expenditure of funds is recorded in order to indicate outstanding commitments and is employed in the governmental fund types. Encumbrances outstanding at year-end are reported as committed or restricted fund balances since they do not constitute expenditures or liabilities. Encumbrances and their related budgets are honored in the subsequent year to fulfill these commitments and are presented in the original adopted budget.

162
11-172

CITY OF NEWPORT BEACH
Notes
to Required Supplementary Information
June 30, 2024

(1) Budgetary Control and Compliance (Continued)

Expenditures exceeded appropriation
s in the following governmental fund:

Appropriations Expenditures Variance
Supplemental Law Enforcement Services
$200,000 $241,105 $(41,105)

163
11-173

This page left blank intentionally.
164
11-174

SUPPLEMENTARY INFORMATION
165
11-175

This page left blank intentionally.
166
11-176

OTHER GOVERNMENTAL FUNDS

Other Special Revenue Funds

Special Revenue Funds are used to account for the proceeds of specific revenue sources which are legally restricted to expenditures for specified purposes. The City of Newport Beach Special Revenue Funds are as follows:

The State Gas Tax Fund accounts for all State Gas Tax related revenues and expenditures, including street repair, construction, and maintenance. State law requires that these funds be used exclusively for maintenance of the street and highway system.

The SB1 Gas Tax RMRA Fund accounts for all Road Maintenance and Rehabilitation Account related revenues and expenditures. State law requires that these funds be used exclusively for the transportation system. RMRA revenues are from fuel and vehicle registration taxes imposed by the state’s Road Repair and Accountability Act of 2017.

The Asset Forfeiture Fund was established to account for all revenues resulting from the seizure of assets in conjunction with criminal cases (primarily drug trafficking) in which judicial proceedings have been completed . All such funds are property of the City, and i t is the City's policy that these funds shall be used for enhancement of law enforcement programs.

The Office of the Traffic Safety (OTS) DUI Grant Fund is used to account for federal funding of the Selective Traffic Enforcement Program (STEP). These funds are used exclusively for DUI enforcement.

The Circulation and Transportation Fund is used to account for fair share revenues collected from developers and restricted for capital improvement projects meeting the circulation element of the City’s General Plan.

The Building Excise Tax Fund is used to account for revenues received from builders or developers on building or remodeling projects within the City. Expenditures from this fund are used exclusively for public safety, libraries, parks, beaches, or recreational activities.

The Community Development Block Grant Fund is used to account for revenues and expenditures relating to the City's Community Development Block Grant program. These funds are received from the Federal Department of Housing and Urban Development and must be expended exclusively on programs for low or moderate income individuals/families.

The Air Quality Management District Fund is used to account for revenues received from the South Coast Air Quality Management District restricted for the use of reducing air pollution.

The Environmental Liability Fund is used to account for solid waste fees restricted for mitigation of future environmental liability relating to the handling of solid waste.

The Supplemental Law Enforcement Services Fund (SLESF) is used to account for revenues received from the county to be used exclusively for front line law enforcement services.

The Opioid Remediation Fund is used to account for revenues received from various settlements related to opioid manufacturing and distribution to be used exclusively for opioid remediation activities.
167
11-177
The Contributions Fund is used to account for revenues received from other government agencies or private developers and expended for specific streets, highway, construction, or water quality projects.

The Fostering Interest in Nature (FIIN) Fund is restricted for recreation and education programming as a mitigation effort by the California Coastal Commission.

The Restricted Programs Fund is used to account for revenues received that are restricted for affordable housing, public arts and culture, parking improvements, and disability access training.

The Measure M Fund is used to account for the revenues and expenditures of funds received from the Orange County Transportation Authority. Expenditures from this fund are used exclusively for transportation related purposes.

The Oceanfront Encroachment Fund is restricted for ocean front restoration and improvement and maintenance to enhance public access and use of ocean beaches as restricted by the Local Coastal Program.

The American Rescue Plan Act Fund is used to account for federal funding received through Coronavirus State and Local Fiscal Recovery Funds under the American Rescue Plan Act.

The Miscellaneous Grants Fund is used to account for revenues received from various other miscellaneous grants.

The PEG Fees Fund is used to account for cable franchise fees received from cable providers for support of Public, Education, and Government access programming only.

Other Capital Projects Funds

Capital Projects Funds are used to account for resources used for the acquisition and construction of capital facilities by the City, except those financed by Enterprise Funds.

The City of Newport Beach Capital Projects Funds are as follows:

The Assessment District Fund is used to account for the receipt and expenditure of funds received from 1911 Act and 1915 Act Assessment Districts for capital improvement projects.

The Fire Station Fund is used to account for the design and construction of new fire stations.

The Civic Center and Park Fund is used to account for the design and construction of a new Civic Center Complex. In prior years, this fund was called City Hall Improvements Fund.

The Police Facility Fund is used to account for the purchase, design and construction of a new police station.

The Newport Uptown Undergrounding Fund is used to account for the receipt and expenditures related to the development within the Newport Uptown Planned Community Development Plan.

The Parks and Community Centers Fund is used to account for expenditures for park and community center rehabilitation, expansion and/or replacement in accordance with the Facilities Financing Planning Program.

The Balboa Village Parking Management District Fund is used to account for revenues and expenditures associated with parking management improvements in Balboa Village.

168
11-178
The Facilities Maintenance Fund is used to account for revenues and expenditures associated with the maintenance of existing facilities.

The Neighborhood Enhancement Fund is used to account for projects that will enhance neighborhood aesthetics and functionality.

The Miscellaneous FFP Projects Fund is used to account for expenditures for small scale facility rehabilitation, expansion and/or replacement in accordance with the Facilities Financing Planning Program.

The Junior Lifeguards Fund is used to account for capital improvement projects related to the Junior Lifeguards program.

The Unrestricted Capital Improvements Fund is used to separately account for general fund capital improvement projects.

The Park Maintenance Fund is used to account for capital improvement projects associated with the maintenance of existing parks.

Other Permanent Funds

Permanent Funds are used to report resources that are legally restricted for the extent that only earnings, not principal, may be used for purposes that support the reporting government’s programs. The City of Newport Beach Permanent Funds are as follows:

The Bay Dredging Fund is used to account for the receipt of permanent endowments intended to fund the ongoing cost of maintaining and dredging of the Upper Newport Bay.

The Ackerman Fund is used to account for the receipt of permanent endowments intended as follows: 75% of the fund’s investment proceeds will be used for the purchase of high- tech library equipment while the remaining 25% will be used for scholarships for needy students.

169
11-179
SB1 Gas Tax Circulation and
State Gas Tax RMRA Asset Forfeiture OTS DUI Grant Transportation Assets
Cash and investments 3,344,439$ 520,112$ 816,276$ -$ 1,061,904$
Receivables:

Accounts (net of allowance) -
-
-
-
-

Interest 10,233 1,899
1,122
-
3,425

Intergovernmental receivab
les 201,787 382,983 - 59,493 -

Restricted cash and investments wi
th fiscal agent -
-
-
-
-

Prepaid items -
-
-
-
-

Total assets 3,556,459$
904,994$ 817,398$ 59,493$ 1,065,329$ Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable 758,658$ 78,995$ -$ -$
147,180$
Accrued payroll -
-
-
-
-

Unearned revenue -
-
-
-
-

Due to other funds -
-
-
59,652 -

Total liabi
lities 758,658 78,995 - 59,652 147,180
Deferred inflows of resources:

Unavailable revenu
e - -
-
-
-

Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
-
-

Permanent endowment -
-
-
-
-

Restricted 2,797,801 825,999 817,398 - 918,149
Committed -
-
-
-
-

Unassigned -
-
-
(159)
-

Total fund bal
ances (deficits) 2,797,801 825,999 817,398 (159) 918,149
Total liabi
lities, deferred inflows of resources
and fund b
alances 3,556,459$ 904,994$ 817,398$ 59,493$ 1,065,329$ (continued)
Special Revenue

CITY OF NEWPORT BEACH
Other Governmental Funds
Combining Balance Sheet
June
30, 2024

Page 1 of 7 ends

170
11-180
Community Air Quality Supplemental
Building Excise Development
Management Environmental Law Enforcement
Tax Block Grant District Liability Services
Assets
Cash and investments 371,255$ -$
1,739,657$ 9,946,765$ -$

Receivables:

Accounts (net of allowance) 24,974 - -
10,882 -

Interest 1,198
-
5,612
32,084 -

Intergovernmental receivab
les -
229,622 28,062 - -

Restricted cash and investments wi
th fiscal agent -
-
-
-
-

Prepaid items -
-
-
39,723 -

Total assets 397,427$
229,622$ 1,773,331$ 10,029,454$ -$

Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable 26,608$ 116,389$ -$ 62,513$ -$

Accrued payroll -
-
-
3,436
-

Unearned revenue -
-
-
-
-

Due to other funds -
113,233 -
-
-

Total liabi
lities 26,608 229,622 - 65,949 -

Deferred inflows of resources:

Unavailable revenu
e - 229,622 28,062 2,516 -

Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
39,723 -

Permanent endowment -
-
-
-
-

Restricted 370,819 -
1,745,269 9,921,266 -

Committed -
-
-
-
-

Unassigned -
(229,622) -
-
-

Total fund bal
ances (deficits) 370,819 (229,622) 1,745,269 9,960,989 -

Total liabi
lities, deferred inflows of resources
and fund b
alances 397,427$ 229,622$ 1,773,331$ 10,029,454$ -$

(continued)
Special Revenue

CITY OF NEWPORT BEACH
Other Governmental Funds
Combining Balance Sheet
June
30, 2024

Page 2 of 7 ends

171
11-181
Opioid Restricted
Remediation Contributions FIIN Programs Measure M
Assets
Cash and investments 505,567$ 11,217,521$ 1,091,280$ 2,504,366$ 2,724,129$ Receivables:

Accounts (net of allowance) -
865,280 -
-
-

Interest -
3 3,520
8,078
8,797

Intergovernmental receivab
les -
44,277
-
-
963,647
Restricted cash and investments wi
th fiscal agent -
-
-
-
-

Prepaid items -
-
-
-
-

Total assets 505,567$
12,127,081$ 1,094,800$ 2,512,444$ 3,696,573$ Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable -$
2,890,037$ -$
1,882$
106,418$
Accrued payroll -
-
-
-
-

Unearned revenue 505,567 4,256,433 - -
503,122
Due to other funds -
-
-
-
-

Total liabi
lities 505,567 7,146,470 - 1,882
609,540
Deferred inflows of resources:

Unavailable revenu
e - 784,131 - -
554,981
Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
-
-

Permanent endowment -
-
-
-
-

Restricted -
4,196,480 1,094,800 2,510,562 2,532,052 Committed -
-
-
-
-

Unassigned -
-
-
-
-

Total fund bal
ances (deficits) - 4,196,480 1,094,800 2,510,562 2,532,052 Total liabi
lities, deferred inflows of resources
and fund b
alances 505,567$ 12,127,081$ 1,094,800$ 2,512,444$ 3,696,573$ (continued)
Other Governmental Funds
Combining Balance Sheet
June 30, 2024

Page 3 of 7 ends

Special
Revenue

CITY OF NEWPORT BEACH
172
11-182
Capital Projects
Oceanfront American Miscellaneous Assessment
Encroachment Rescue Plan Act Grants PEG Fees District
Assets
Cash and investments 1,166,677$ 675,566$ -$ 3,463,701$ -$

Receivables:

Accounts (net of allowance) 35,029
-
-
75,132
-

Interest 3,763
-
-
11,173
153,080
Intergovernmental receivab
les -
-
9,911
-
-

Restricted cash and investments wi
th fiscal agent -
-
-
-
27,328,069
Prepaid items -
-
-
-
-

Total assets 1,205,469$
675,566$ 9,911$
3,550,006$ 27,481,149$
Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable 21,917$ 673,232$ -$ -$
2,460,595$
Accrued payroll -
-
-
-
-

Unearned revenue -
2,334
-
-
-

Due to other funds -
-
9,911
-
58,643

Total liabi
lities 21,917 675,566 9,911 -
2,519,238
Deferred inflows of resources:

Unavailable revenu
e - -
-
-
-

Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
-
-

Permanent endowment -
-
-
-
-

Restricted 1,183,552 -
-
3,550,006 24,961,911
Committed -
-
-
-
-

Unassigned -
-
-
-
-

Total fund bal
ances (deficits) 1,183,552 -
-
3,550,006 24,961,911
Total liabi
lities, deferred inflows of resources
and fund b
alances 1,205,469$ 675,566$ 9,911$ 3,550,006$ 27,481,149$
(continued)
Special Revenue

Page 4 of 7 ends

June 30, 2024

CITY OF NEWPORT BEACH
Ot
her Governmental Funds
Combining Balance Sheet
173
11-183
Parks and
Civic Center Newport Uptown Community
Fire Station and Park Police Facility Undergrounding Centers Assets
Cash and investments 3,041,090$ 504,119$ 685,696$ 3,400$ 17,594,132$ Receivables:

Accounts (net of allowance) -
-
-
-
-

Interest 9,810
1,465
2,212
11 56,753
Intergovernmental receivab
les -
-
-
-
-

Restricted cash and investments wi
th fiscal agent 292,893 -
-
-
-

Prepaid items -
-
-
-
-

Total assets 3,343,793$
505,584$ 687,908$ 3,411$ 17,650,885$ Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable 56,704$ 418$
-$
-$
1,543,336$
Accrued payroll -
-
-
-
-

Unearned revenue -
-
-
-
-

Due to other funds -
-
-
-
-

Total liabi
lities 56,704 418
-
-
1,543,336
Deferred inflows of resources:

Unavailable revenu
e - -
-
-
-

Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
-
-

Permanent endowment -
-
-
-
-

Restricted 292,893 -
-
3,411
-

Committed 2,994,196 505,166 687,908 - 16,107,549
Unassigned -
-
-
-
-

Total fund bal
ances (deficits) 3,287,089 505,166 687,908 3,411 16,107,549
Total liabi
lities, deferred inflows of resources
and fund b
alances 3,343,793$ 505,584$ 687,908$ 3,411$ 17,650,885$ (continued)

CITY OF NEWPORT BEACH
Other Governmental Funds
Combining Balance Sheet
June
30, 2024

Page 5 of 7 ends

Capital Projects
174
11-184
Balboa Village
Parking
Management Facilities Neighborhood Miscellaneous Junior District Maintenance Enhancement FFP Projects Lifeguards Assets
Cash and investments 353,586$ 4,502,445$ 12,418,388$ 6,651,776$ 127,906$ Receivables:

Accounts (net of allowance) -
-
-
-
-

Interest 1,140
14,524
40,058
-
413

Intergovernmental receivab
les -
-
-
-
-

Restricted cash and investments wi
th fiscal agent -
-
-
-
-

Prepaid items -
-
-
-
-

Total assets 354,726$
4,516,969$ 12,458,446$ 6,651,776$ 128,319$ Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable 44,133$ 348,828$ 727,614$ 128,949$ 6,173$

Accrued payroll -
-
-
-
-

Unearned revenue -
-
-
-
-

Due to other funds -
-
-
-
-

Total liabi
lities 44,133 348,828 727,614 128,949 6,173

Deferred inflows of resources:

Unavailable revenu
e - -
-
-
-

Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
-
-

Permanent endowment -
-
-
-
-

Restricted -
-
-
-
-

Committed 310,593 4,168,141 11,730,832 6,522,827 122,146 Unassigned -
-
-
-
-

Total fund bal
ances (deficits) 310,593 4,168,141 11,730,832 6,522,827 122,146 Total liabi
lities, deferred inflows of resources
and fund b
alances 354,726$ 4,516,969$ 12,458,446$ 6,651,776$ 128,319$ (continued)

CITY OF NEWPORT BEACH
Other Governmental Funds
Combining Balance Sheet
June
30, 2024

Page 6 of 7 ends

Capital Projects
175
11-185
Total
Unrestricted Other
Capital Park Ackerman Governmental
Improvements Maintenance Bay Dredging Donation Funds
Assets
Cash and investments 16,591,150$ 1,020,012$ 5,612,254$ 1,225,200$ 111,480,369$ Receivables:

Accounts (net of allowance) -
-
-
-
1,011,297
Interest -
3,290
18,103
3,952
395,718
Intergovernmental receivab
les -
-
-
-
1,919,782
Restricted cash and investments wi
th fiscal agent -
-
-
-
27,620,962
Prepaid items -
-
-
-
39,723

Total assets 16,591,150$
1,023,302$ 5,630,357$ 1,229,152$ 142,467,851$ Liabilities, Deferred Inflows of Resources
and Fund Balances
Liabilities:

Accounts payable 871,003$ 63,700$ -$ 13,220$ 11,148,502$
Accrued payroll -
-
-
-
3,436

Unearned revenue -
-
-
-
5,267,456
Due to other funds -
-
-
-
241,439
Total liabi
lities 871,003 63,700
-
13,220
16,660,833
Deferred inflows of resources:

Unavailable revenu
e - -
-
-
1,599,312
Fund balances (deficits):

Nonspendable:

Prepaid items -
-
-
-
39,723

Permanent endowment -
-
3,857,000 772,781 4,629,781 Restricted -
-
1,773,357 443,151 59,938,876 Committed 15,720,147 959,602 - -
59,829,107
Unassigned -
-
-
-
(229,781)

Total fund bal
ances (deficits) 15,720,147 959,602 5,630,357 1,215,932 124,207,706 Total liabi
lities, deferred inflows of resources
and fund b
alances 16,591,150$ 1,023,302$ 5,630,357$ 1,229,152$ 142,467,851$ Capital Projects Permanent Funds

CITY OF NEWPORT BEACH
Other Governmental Funds
Combining Balance Sheet
June
30, 2024

Page 7 of 7 ends

176
11-186
SB1 Gas Tax Circulation and
State Gas Tax RMRA Asset Forfeiture OTS DUI Grant Transportation Revenues:

Other taxes -$ -$ -$ -$ -$
Intergovernmental 2,331,825 2,197,540 268,095 281,638 - Charge for services - - - - -
Licenses, permits and fees - - - - 299,476
Property income - - - - -
Investment income 131,912 31,060 22,756 - 35,197 Net increase in fair value of in
vestments 81,601 15,656 13,575 - 23,346
Donations - - - - -
Special assessments - - - - -
Other - - - - -
Total revenues 2,545,338 2,244,256 304,426 281,638 358,019 Expenditures:

Current:

General government - - - - -
Public safety - - 17,393 281,797 -
Public works - - - - -
Community development - - - - -
Community services - - - - -
Capital outlay 3,455,116 1,834,308 - - 1,093,629 Total expenditures 3,455,116 1,834,308 17,393 281,797 1,093,629 Excess (deficiency) of reven
ues
over expenditures (909,778) 409,948 287,033 (159) (735,610) Other financing sources (uses):

Transfers in - - - - -
Transfers out - - - - -
Total other finan
cing sources (uses) - - - - -
Net change in fun
d balances (909,778) 409,948 287,033 (159) (735,610) Fund balances (deficits), beg
inning 3,707,579 416,051 530,365 - 1,653,759
Fund balances (deficits), endi
ng 2,797,801$ 825,999$ 817,398$ (159) 918,149$ (continued)
Other Governmental Funds

CITY OF NEWPORT BEACH
Combining Statement
of Revenues,
Special Revenue
Expenditures and Changes in Fund Balances
For the Year Ended June 30, 2024

Page 1 of 7 ends

177
11-187
Community Air Quality Supplemental
Building Excise Development Management
Environmental Law Enforcement
Tax Block Grant District Liability Services
Revenues:

Other taxes -$ -$ -$ 963,173$ -$
Intergovernmental - 95,221 112,059 - 241,105
Charge for services - - - - -
Licenses, permits and fees 190,664 - - - -
Property income - - - - -
Investment income 8,919 - 50,214 293,008 -
Net increase in fair value of in
vestments 4,688 - 30,261 180,497 -
Donations - - - - -
Special assessments - - - - -
Other - - - 66,962 -
Total revenues 204,271 95,221 192,534 1,503,640 241,105 Expenditures:

Current:

General government - - - - -
Public safety - - - - 241,105
Public works - - - 421,635 -
Community development - 324,843 - - -
Community services - - - - -
Capital outlay 21,435 - - 377,713 -
Total expenditures 21,435 324,843 - 799,348 241,105 Excess (deficiency) of reven
ues
over expenditures 182,836 (229,622) 192,534 704,292 - Other financing sources (uses):

Transfers in - - - - -
Transfers out - - - - -
Total other finan
cing sources (uses) - - - - -
Net change in fun
d balances 182,836 (229,622) 192,534 704,292 -
Fund balances (deficits), beg
inning 187,983 - 1,552,735 9,256,697 -
Fund balances (deficits), endi
ng 370,819$ (229,622)$ 1,745,269$ 9,960,989$ -$ (continued)
Other Governmental Funds

CITY OF NEWPORT BEACH
Combining Statement
of Revenues,
Special Revenue
Expenditures and Changes in Fund Balances
For the Year Ended June 30, 2024

Page 2 of 7 ends

178
11-188
Opioid Restricted
Remediation Contributions FIIN Programs Measure M
Revenues:

Other taxes -$
-$
-$
-$
-$

Intergovernmental -
5,083,257 -
-
2,965,303
Charge for services -
-
-
61,917
-

Licenses, permits and fees -
-
-
150,000 -

Property income -
-
-
24,669
-

Investment income -
1,743
33,670
67,756
84,830

Net increase in fair value of i
nvestments -
1,097
21,022
40,531
50,670

Donations -
5,501,518 -
112,587 -

Special assessments -
-
-
-
-

Other 44,976
-
-
66,266
-

Total reven
ues 44,976 10,587,615 54,692 523,726 3,100,803
Expenditures:

Current:

General government 44,976
-
-
-
-

Public safety -
-
-
-
-

Public works -
-
-
-
-

Community development -
-
-
-
-

Community services -
-
149,948 13,671
-

Capital outlay -
10,805,241 -
-
2,520,338
Total expendi
tures 44,976 10,805,241 149,948 13,671 2,520,338
Excess (deficiency)
of revenues
over exp
enditures - (217,626) (95,256) 510,055 580,465
Other financing sources (uses):

Transfers in -
4,643,968 -
-
15,290

Transfers out -
(218,237) -
-
-

Total other fi
nancing sources (uses) - 4,425,731 - -
15,290

Net change in fu
nd balances -
4,208,105 (95,256) 510,055 595,755 Fund balances (deficits), b
eginning - (11,625)
1,190,056 2,000,507 1,936,297 Fund balances (deficits), en
ding -$ 4,196,480$ 1,094,800$ 2,510,562$ 2,532,052$ (continued)
Expenditures and Changes in Fund Balances
Special Revenue
For the Year Ended June 30, 2024

Page 3 of 7 ends

CITY OF NEWPORT BEA
CH
Other Governmental Funds
Combining Statement of Revenues,
179
11-189
Capital Projects
Oceanfront American Miscellaneous Assessment
Encroachment Rescue Plan Act Grants PEG Fees District
Revenues:

Other taxes -$ -$ -$ -$ -$
Intergovernmental - 7,071,718 9,911 - -
Charge for services - - - - -
Licenses, permits and fees - - - 307,890 -
Property income 270,561 - - - -
Investment income 33,000 - - 100,757 1,393,470
Net increase in fair value of in
vestments 19,596 - - 61,255 68,033
Donations - - - - -
Special assessments - - - - 26,843,142
Other - - - - -
Total revenues 323,157 7,071,718 9,911 469,902 28,304,645 Expenditures:

Current:

General government - 3,535 - 72,433 -
Public safety - - 9,911 - -
Public works - 115,499 - - 9,401,847
Community development - - - - -
Community services - - - - -
Capital outlay 85,228 1,726,042 - - -
Total expenditures 85,228 1,845,076 9,911 72,433 9,401,847 Excess (deficiency) of reven
ues
over expenditures 237,929 5,226,642 - 397,469 18,902,798 Other financing sources (uses):

Transfers in - - - - 5,300
Transfers out - (5,226,642) - - (1,230,300)
Total other finan
cing sources (uses) - (5,226,642) - - (1,225,000.00) Net change in fun
d balances 237,929 - - 397,469 17,677,798
Fund balances (deficits), beg
inning 945,623 - - 3,152,537 7,284,113
Fund balances (deficits), endi
ng 1,183,552$ -$ -$ 3,550,006$ 24,961,911$
(continued)
Combining Statement of Revenues,
Expenditures and Changes in Fund
Balances

CITY OF NEWPORT BEACH
Other Governmental Funds

Page 4 of 7 ends

For the Year Ended June 30, 2024
Special Revenue
180
11-190
Parks and
Civic Center Newport Uptown Community
Fire Station and Park Police Facility Undergrounding Centers Revenues:

Other taxes -$
-$
-$
-$
-$

Intergovernmental -
-
-
-
-

Charge for services -
-
-
-
-

Licenses, permits and fees -
-
-
-
-

Property income -
-
-
-
-

Investment income 102,256 13,536 18,654 101 528,941
Net increase in fair value of i
nvestments 56,411 8,298
14,748 62
303,359
Donations -
-
-
-
-

Special assessments -
-
-
-
-

Other -
-
-
-
-

Total reven
ues 158,667 21,834 33,402 163 832,300
Expenditures:

Current:

General government -
2,033
-
-
-

Public safety -
-
-
-
-

Public works -
-
-
-
-

Community development -
-
-
-
-

Community services -
-
-
-
-

Capital outlay 181,529
-
4,250
-
6,361,244
Total expendi
tures 181,529 2,033
4,250
-
6,361,244
Excess (deficiency)
of revenues
over exp
enditures (22,862) 19,801 29,152 163 (5,528,944)
Other financing sources (uses):

Transfers in -
-
-
-
6,955,012
Transfers out -
-
-
-
-

Total other fi
nancing sources (uses) - - -
-
6,955,012
Net change in fu
nd balances (22,862) 19,801 29,152 163 1,426,068
Fund balances (deficits), b
eginning 3,309,951 485,365 658,756 3,248 14,681,481
Fund balances (deficits), en
ding 3,287,089$ 505,166$ 687,908$ 3,411$ 16,107,549$ (continued)
Combining Statement of Revenues,
Expenditures and Changes i
n Fund Balances
For the Year Ended June 30, 2024

Page 5 of 7 ends

Other Governmental Funds

CITY OF NEWPORT BEACH
Capital Projects
181
11-191
Balboa Village
Parking
Management Facilities Neighborhood Miscellaneous Junior District Maintenance Enhancement FFP Projects Lifeguards Revenues:

Other taxes -$ -$ -$ -$ -$
Intergovernmental - - - - -
Charge for services - - - - -
Licenses, permits and fees - - - - -
Property income - - - - -
Investment income 11,052 176,997 450,872 - 1,717 Net increase in fair value of in
vestments 6,771 109,416 294,045 - 466
Donations - - - - -
Special assessments - - - - -
Other - - - - -
Total revenues 17,823 286,413 744,917 - 2,183 Expenditures:

Current:

General government - - - - -
Public safety - - - - -
Public works - - - - -
Community development - - - - -
Community services - - - - -
Capital outlay 86,475 2,673,645 6,551,637 289,263 167,481 Total expenditures 86,475 2,673,645 6,551,637 289,263 167,481 Excess (deficiency) of reven
ues
over expenditures (68,652) (2,387,232) (5,806,720) (289,263) (165,298) Other financing sources (uses):

Transfers in - 2,500,000 1,665,952 4,940,281 286,361 Transfers out - - - - -
Total other finan
cing sources (uses) - 2,500,000 1,665,952 4,940,281 286,361 Net change in fun
d balances (68,652) 112,768 (4,140,768) 4,651,018 121,063 Fund balances (deficits), beg
inning 379,245 4,055,373 15,871,600 1,871,809 1,083 Fund balances (deficits), endi
ng 310,593$ 4,168,141$ 11,730,832$ 6,522,827$ 122,146$ (continued)
For the Year Ended June 30, 2024

Page 6 of 7 ends

CITY OF NEWPORT BEACH
Ot
her Governmental Funds
Combining Statement of Revenues,
Expenditures and Changes in Fund Balances
Capital Projects
182
11-192
Total
Unrestricted Other
Capital Park Ackerman Governmental
Improvements Maintenance Bay Dredging Donation Funds
Revenues:

Other taxes -$
-$
-$
-$
963,173
Intergovernmental -
-
-
-
20,657,672
Charge for services -
-
-
-
61,917
Licenses, permits and fees -
-
-
-
948,030
Property income -
-
-
-
295,230
Investment income -
31,748 167,037 36,736 3,827,939 Net increase in fair value of i
nvestments -
18,148 102,289 22,507 1,548,348 Donations -
-
-
-
5,614,105
Special assessments -
-
-
-
26,843,142
Other -
-
-
-
178,204
Total reven
ues - 49,896 269,326 59,243 60,937,760 Expenditures:

Current:

General government -
-
-
-
122,977
Public safety -
-
-
-
550,206
Public works -
-
-
-
9,938,981
Community development -
-
-
4,900
329,743
Community services -
-
-
19,940 183,559
Capital outlay 7,602,296
90,294 -
-
45,927,164
Total expendi
tures 7,602,296 90,294 - 24,840 57,052,630
Excess (deficiency)
of revenues
over exp
enditures (7,602,296) (40,398)
269,326 34,403 3,885,130 Other financing sources (uses):

Transfers in 12,776,641 1,000,000 - -
34,788,805
Transfers out (1,000,000)
-
-
-
(7,675,179)
Total other fi
nancing sources (uses) 11,776,641 1,000,000 - -
27,113,626
Net change in fu
nd balances 4,174,345 959,602 269,326 34,403 30,998,756 Fund balances (deficits), b
eginning 11,545,802 -
5,361,031 1,181,529 93,208,950 Fund balances (deficits), en
ding 15,720,147$ 959,602$ 5,630,357$ 1,215,932$ 124,207,706$

CITY OF NEWPORT BEACH

Page 7 of 7 ends

Capital
Projects Permanent Funds
Other Governmental Funds
Combining Statement of Revenues,
Expenditures
and Changes in Fund Balances
For the Year Ended June 30, 2024
183
11-193
Variance with
Final Budget
Positive
Original Final Actual (Negativ
e)
Revenues:

Intergovernmental 2,189,879$ 2,189,879$ 2,331,825$ 141,946$ Investment income 21,669 21,669 131,912 110,243 Net increase in fair value of investments - - 81,601 81,601 Total revenues 2,211,548 2,211,548 2,545,338 333,790 Expenditures:

Capital outlay 1,864,993 5,690,245 3,455,116 2,235,129 Net change in fund balance 346,555 (3,478,697) (909,778) 2,568,919 Fund balance, beginning 3,707,579 3,707,579 3,707,579 - Fund balance, ending 4,054,134$ 228,882$ 2,797,801$ 2,568,919$

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
State Gas Tax Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
184
11-194

Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental 1,846,884 $ 1,846,884 $ 2,197,540 $ 350,656 $ Investment income 3,321 3,321 31,060 27,739 Net increase in fair value of investments - - 15,656 15,656 Total revenues 1,850,205 1,850,205 2,244,256 394,051 Expenditures:

Capital outlay 2,000,000 1,834,308 1,834,308 - Net change in fund balance (149,795) 15,897 409,948 394,051 Fund balance, beginning 416,051 416,051 416,051 - Fund balance, ending 266,256 $ 431,948 $ 825,999 $ 394,051 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
SB1 Gas Tax RMRA Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
185
11-195
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental - $ - $ 268,095$ 268,095 $ Investment income - - 22,756 22,756 Net increase in fair value of investments - - 13,575 13,575 Total revenues - - 304,426 304,426 Expenditures:

Public safety 65,000 65,000 17,393 47,607 Net change in fund balance (65,000) (65,000) 287,033 352,033 Fund balance, beginning 530,365 530,365 530,365 - Fund balance, ending 465,365 $ 465,365 $ 817,398 $ 352,033 $ Budgeted Amounts

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Asset Forfeiture Special Revenue Fund
For the Year Ended June 30, 2024
186
11-196
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental - $ 376,000$ 281,638 $ (94,362) $ Expenditures:

Public safety - 376,000 281,797 94,203 Net change in fund balance - - (159) (159) Fund balance, beginning - - - - Fund balance, ending -$ -$ (159)$ (159)$ Budgeted Amounts

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
OTS DUI Grant Special Revenue Fund
For the Year Ended June 30, 2024
187
11-197
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Licenses, permits and fees - $ - $ 299,476$ 299,476 $ Investment income - - 35,197 35,197 Net increase in fair value of investments - - 23,346 23,346 Total revenues - - 358,019 358,019 Expenditures:

Capital outlay - 1,253,127 1,093,629 159,498 Net change in fund balance - (1,253,127) (735,610) 517,517 Fund balance, beginning 1,653,759 1,653,759 1,653,759 - Fund balance, ending 1,653,759 $ 400,632 $ 918,149 $ 517,517 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Circulation and Transportation Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
188
11-198
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Licenses, permits and fees 202,950 $ 202,950 $ 190,664 $ (12,286) $ Investment income 3,006 3,006 8,919 5,913 Net increase in fair value of investments - - 4,688 4,688 Total revenues 205,956 205,956 204,271 (1,685) Expenditures:

Capital outlay - 379,207 21,435 357,772 Net change in fund balance 205,956 (173,251) 182,836 356,087 Fund balance, beginning 187,983 187,983 187,983 - Fund balance, ending 393,939 $ 14,732 $ 370,819 $ 356,087 $ Budgeted Amounts

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Building Excise Tax Special Revenue Fund
For the Year Ended June 30, 2024
189
11-199
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental 385,974 $ 1,074,362 $ 95,221 $ (979,141) $ Total revenues 385,974 1,074,362 95,221 (979,141) Expenditures:

Community development 183,586 1,074,362 324,843 749,519 Debt service:

Principal 208,000 - - - Interest and fiscal charges 2,548 - - - Total expenditures 394,134 1,074,362 324,843 749,519 Net change in fund balance (8,160) - (229,622) (229,622) Fund balance, beginning - - - - Fund balance (deficit), ending (8,160) $ - $ (229,622)$ (229,622) $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Community Development Block Grant Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
190
11-200
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental 100,000 $ 100,000 $ 112,059 $ 12,059 $ Investment income 16,734 16,734 50,214 33,480 Net increase in fair value of investments - - 30,261 30,261 Total revenues 116,734 116,734 192,534 75,800 Expenditures:

Capital outlay - 216,319 - 216,319 Net change in fund balance 116,734 (99,585) 192,534 292,119 Fund balance, beginning 1,552,735 1,552,735 1,552,735 - Fund balance, ending 1,669,469 $ 1,453,150 $ 1,745,269 $ 292,119 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Air Quality Management District Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
191
11-201
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Other taxes 670,563 $ 670,563 $ 963,173 $ 292,610 $ Investment income 153,829 153,829 293,008 139,179 Net increase in fair value of investments - - 180,497 180,497 Other revenue 40,000 40,000 66,962 26,962 Total revenues 864,392 864,392 1,503,640 639,248 Expenditures:

Public works 714,458 714,458 421,635 292,823 Capital outlay - 1,273,486 377,713 895,773 Total expenditures 714,458 1,987,944 799,348 1,188,596 Net change in fund balance 149,934 (1,123,552) 704,292 1,827,844 Fund balance, beginning 9,256,697 9,256,697 9,256,697 - Fund balance, ending 9,406,631 $ 8,133,145 $ 9,960,989 $ 1,827,844 $ Budgeted Amounts

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Environmental Liability Special Revenue Fund
For the Year Ended June 30, 2024
192
11-202
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental 250,000 $ 250,000 $ 241,105 $ (8,895) $ Expenditures:

Public safety 200,000 200,000 241,105 (41,105) Net change in fund balance 50,000 50,000 - (50,000) Fund balance, beginning - - - - Fund balance, ending 50,000 $ 50,000 $ - $ (50,000)$ Budgeted Amounts

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Supplemental Law Enforcement Special Revenue Fund
For the Year Ended June 30, 2024
193
11-203
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Other - $ - $ 44,976$ 44,976 Expenditures:

General government - 395,766 44,976 350,790 Net change in fund balance - (395,766) - 395,766 Fund balance, beginning - - - - Fund balance, ending - $ (395,766)$ - $ 395,766$

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Opioid Remediation Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
194
11-204
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental - $ 7,643,957$ 5,083,257 $ (2,560,700) $ Investment income 36,532 36,532 1,743 (34,789) Net increase in fair value of investments - - 1,097 1,097 Donations - 9,079,969 5,501,518 (3,578,451) Other - 42,650 - (42,650) Total revenues 36,532 16,803,108 10,587,615 (6,215,493) Expenditures:

Capital outlay 8,502,000 20,805,623 10,805,241 10,000,382 Excess (deficiency) of revenues
over expenditures (8,465,468) (4,002,515) (217,626) 3,784,889 Other financing sources:

Transfers in - 4,643,968 4,643,968 - Transfers out - (218,237) (218,237) - Total other financing sources (uses) - 4,425,731 4,425,731 - Net change in fund balance (8,465,468) 423,216 4,208,105 3,784,889 Fund balance, beginning (11,625) (11,625) (11,625) - Fund balance, ending (8,477,093) $ 411,591 $ 4,196,480 $ 3,784,889 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Contributions Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
195
11-205
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Investment income 23,910 $ 23,910 $ 33,670 $ 9,760 $ Net increase in fair value of investments - - 21,022 21,022 Donations - 75,000 - (75,000) Total revenues 23,910 98,910 54,692 (44,218) Expenditures:

Community services 147,000 233,669 149,948 83,721 Net change in fund balance (123,090) (134,759) (95,256) 39,503 Fund balance, beginning 1,190,056 1,190,056 1,190,056 - Fund balance, ending 1,066,966 $ 1,055,297 $ 1,094,800 $ 39,503 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
FIIN Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
196
11-206

Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Charges for services - $ - $ 61,917$ 61,917 $ Licenses, permits and fees 150,000 150,000 150,000 - Property income 32,118 32,118 24,669 (7,449) Investment income - - 67,756 67,756 Net increase in fair value of investments - - 40,531 40,531 Donations 35,000 35,000 112,587 77,587 Other 16,672 16,672 66,266 49,594 Total revenues 233,790 233,790 523,726 289,936 Expenditures:

Community development - 20,000 - 20,000 Community services - 46,351 13,671 32,680 Total expenditures - 66,351 13,671 52,680 Net change in fund balance 233,790 167,439 510,055 342,616 Fund balance, beginning 2,000,507 2,000,507 2,000,507 - Fund balance, ending 2,234,297 $ 2,167,946 $ 2,510,562 $ 342,616 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Restricted Programs Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
197
11-207
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental 2,728,303 $ 4,920,550 $ 2,965,303 $ (1,955,247) $ Investment income 7,122 7,122 84,830 77,708 Net increase in fair value of investments - - 50,670 50,670 Total revenues 2,735,425 4,927,672 3,100,803 (1,826,869) Expenditures:

Capital outlay 1,857,000 6,185,248 2,520,338 3,664,910 Excess (deficiency) of revenues
over expenditures 878,425 (1,257,576) 580,465 1,838,041 Other financing sources:

Transfers in - 15,290 15,290 - Net change in fund balance 878,425 (1,242,286) 595,755 1,838,041 Fund balance, beginning 1,936,297 1,936,297 1,936,297 - Fund balance, ending 2,814,722 $ 694,011 $ 2,532,052 $ 1,838,041 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Measure M Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
198
11-208
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Property income 259,728 $ 259,728 $ 270,561 $ 10,833 $ Investment income - - 33,000 33,000 Net increase in fair value of investments - - 19,596 19,596 Total revenues 259,728 259,728 323,157 63,429 Expenditures:

Capital outlay - 302,041 85,228 216,813 Net change in fund balance 259,728 (42,313) 237,929 280,242 Fund balance, beginning 945,623 945,623 945,623 - Fund balance, ending 1,205,351 $ 903,310 $ 1,183,552 $ 280,242 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
Oceanfront Encroachment Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
199
11-209
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental -$ 7,071,718$ 7,071,718$ -$
Expenditures:

General government - 3,535 3,535 -
Public works - 115,499 115,499 -
Capital outlay 10,100,000 1,726,042 1,726,042 - Total expenditures 10,100,000 1,845,076 1,845,076 - Excess (deficiency) of revenues
over expenditures (10,100,000) 5,226,642 5,226,642 - Other financing uses:

Transfers out - (5,226,642) (5,226,642) -
Net change in fund balance (10,100,000) - - -
Fund balance, beginning - - - -
Fund balance (deficit), ending (10,100,000)$ -$ -$ -$ Budgeted Amounts

CITY OF NEWPORT BEACH
American Rescue Plan Act
Budgetary Comparison Schedule
For the Year Ended June 30, 2024
200
11-210
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Intergovernmental - $ 9,911$ 9,911 $ - $ Expenditures:

Public safety - 9,911 9,911 - Net change in fund balance - - - - Fund balance, beginning - - - - Fund balance, ending - $ - $ - $ - $ Budgeted Amounts
For the Year Ended June 30, 2024
Miscellaneous Grants Special Revenue Fund
Budgetary Comparison Schedule

CITY OF NEWPORT BEACH
201
11-211
Variance with
Final Budget
Positive
Original Final Actual (Negative)
Revenues:

Licenses, permits and fees 360,000 $ 360,000 $ 307,890 $ (52,110) $ Investment income - - 100,757 100,757 Net increase in fair value of investments - - 61,255 61,255 Total revenues 360,000 360,000 469,902 109,902 Expenditures:

General government - 90,000 72,433 17,567 Net change in fund balance 360,000 270,000 397,469 127,469 Fund balance, beginning 3,152,537 3,152,537 3,152,537 - Fund balance, ending 3,512,537 $ 3,422,537 $ 3,550,006 $ 127,469 $

CITY OF NEWPORT BEACH
Budgetary Comparison Schedule
PEG Fees Special Revenue Fund
For the Year Ended June 30, 2024
Budgeted Amounts
202
11-212

SUPPLEMENTARY INFORMATION

203
11-213

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204
11-214

INTERNAL SERVICE FUNDS

The Internal Service Funds are used to allocate the cost of providing goods and services by one department to other departments on a cost reimbursement basis.

The City of Newport Beach Internal Service Funds are listed below:

The Insurance Reserve Fund is used to account for the City's self- insured general liability and workers' compensation program.

The Compensated Absences Fund is used to account for the City’s accumulated liability for compensated absences.

The Retiree Insurance Fund is used to account for the cost of providing post-employment health care benefits.

The Equipment Maintenance Fund is used to account for the cost of maintaining and replacing the City’s ro lling stock fleet, parking equipment, coordinated communications system equipm ent, fire equipment and recreation equipment.

The Information Technology Fund is used to account for the cost of maintaining and replacing the City’s computers, printers, copiers and telecommunication services to other departments.

205
11-215
Total
Insurance Compensated Retiree Equipment
Information Internal
Assets Reserve Absences Insurance Maintenance Technology Service Funds Current assets:

Cash and investments 44,053,148$ 7,752,988$
932,028$ 20,743,381$ 12,846,738$ 86,328,283$
Receivables:

Accounts (net of allowance) 26,216 - 857 - - 27,073 Interest 140,638 24,789 3,231 66,868 41,396 276,922 Inventories - - - 463,782 - 463,782 Prepaid items -
- 69,865 57,837 668,196 795,898

Total current assets 44,220,002 7,777,777 1,005,981 21,331,868 13,556,330 87,891,958

Noncurrent assets:

Capital assets:

Equipment - - - 45,058,356 3,528,518 48,586,874 Intangible right to use equipment - - - - 363,725 363,725 Structures - - - 39,581 - 39,581 Software - - - - 4,360,625 4,360,625 Intangible right to use subscriptions
- - - 1,723,597 547,676 2,271,273 Less accumulated depreciation/amortization -
- - (29,481,200) (6,969,102) (36,450,302)

Total capital assets (net
of accumulated
depreciation/amortiz
ation) - - - 17,340,334 1,831,442 19,171,776 Total assets 44,220,002
7,777,777 1,005,981 38,672,202 15,387,772 107,063,734 Deferred outflows of resources:

Deferred amount from pension plans - - - 917,183 1,838,389 2,755,572 Deferred amount from OPEB -
- - 252,071 505,254 757,325 Total deferred outflows of r
esources - - - 1,169,254 2,343,643 3,512,897 Liabilities
Current liabilities:

Accounts payable 14,315,707 - - 208,793 71,239 14,595,739 Accrued payroll 11,853 151,607 185,588 43,861 110,774 503,683 Due to other funds - - 353,001 - - 353,001 Workers' compensation - current 4,035,291 - - - - 4,035,291 General liability - current 3,577,058 - - - - 3,577,058 Compensated absences - current - 3,539,392 - - - 3,539,392 Lease liability - current - - - - 73,074 73,074 Subscription liability - curr
ent - - - 169,441 35,391 204,832 Total current liabil
ities 21,939,909 3,690,999 538,589 422,095 290,478 26,882,070 Noncurrent liabilities:

Workers' compensation 19,415,272 - - - - 19,415,272 General liability 7,264,260 - - - - 7,264,260 Compensated absences - 10,108,774 - - - 10,108,774 Lease liability - - - - 67,340 67,340 Subscription liability - - - 1,300,946 - 1,300,946 Net pension liability - - - 2,238,339 4,486,532 6,724,871 Net OPEB liability -
- - 202,999 406,900 609,899 Total noncurrent liabil
ities 26,679,532 10,108,774 - 3,742,284 4,960,772 45,491,362 Total li
abilities 48,619,441 13,799,773 538,589 4,164,379 5,251,250 72,373,432 Deferred inflows of resources:

Deferred amount from pension plans - - - 9,675 19,388 29,063 Deferred amount from OPEB -
- - 7,724 15,482 23,206 Total deferred inflows of r
esources - - - 17,399 34,870 52,269 Net Position
Invested in capital assets - - - 15,801,398 1,644,277 17,445,675 Unrestricted (4,399,439) (6,021,996) 467,392 19,858,280 10,801,018 20,705,255 Total net pos
ition (4,399,439)$ (6,021,996)$ 467,392$ 35,659,678$ 12,445,295$ 38,150,930$

CITY OF NEWPORT BEACH
Internal
Service Funds
Combining Statement of Net Position
June 30, 2024
206
11-216
Total
Insurance Compensated Retiree Equipment Information Interna l
Reserve Absences Insurance Maintenance Technology Service Funds Operating revenues:

Charges for serv
ices 13,827,679$ 2,999,486$ 4,359,593$ 8,530,463$ 8,213,165$ 37,930,386$ Employee contributions - - 24,130 - - 24,130 Other 206,884 - 3,055,688 462,496 610,000 4,335,068 Total operating rev
enues 14,034,563 2,999,486 7,439,411 8,992,959 8,823,165 42,289,584 Operating expenses:

Salaries and
wages - - - 1,166,646 2,926,262 4,092,908 Depreciation/amortization - - - 3,464,942 635,818 4,100,760 Professional services - - - 125,250 732,945 858,195 Maintenance and supplies - - - 1,638,837 1,663,079 3,301,916 Fleet parts and supplies - - - 500,453 - 500,453 Telecommunication - - - - 194,919 194,919 System maintenance - - - 151,358 - 151,358 Hardware - - - - 381,955 381,955 Software - - - - 541,072 541,072 Workers' compensation 11,588,497 - - - - 11,588,497 Claims and judgments 25,766,286 - - - - 25,766,286 Compensated absences - 2,498,119 - - - 2,498,119 OPEB - - 11,002,082 - - 11,002,082 Other - - 2,425,284 - - 2,425,284 Total operating e
xpenses 37,354,783 2,498,119 13,427,366 7,047,486 7,076,050 67,403,804 Operating income
(loss) (23,320,220) 501,367 (5,987,955) 1,945,473 1,747,115 (25,114,220) Nonoperating revenues:

Invest
ment income 1,241,067 210,890 104,471 610,819 367,830 2,535,077 Net increase in fair value of investments 748,014 124,970 85,176 370,906 220,025 1,549,091 Gain on sale of capital assets - - - 284,690 237 284,927 Interest expense - - - (8,590) (1,394) (9,984) Total nonoperat
ing revenues 1,989,081 335,860 189,647 1,257,825 586,698 4,359,111 Income (loss) bef
ore transfers (21,331,139) 837,227 (5,798,308) 3,203,298 2,333,813 (20,755,109)

Transfers in - - 5,802,500 - - 5,802,500 Change in net p
osition (21,331,139) 837,227 4,192 3,203,298 2,333,813 (14,952,609)

Net position, beginning 16,931,700
(6,859,223) 463,200 32,456,380 10,111,482 53,103,539 Net position, ending (4,399,439)$ (6,021,996)$ 467,392$ 35,659,678$ 12,445,295$ 38,150,930$

CITY OF NEWPORT BEACH
Internal Service
Funds
Combining Statement of Revenues, Expenses
and Changes in Net Position
For the Year Ended June 30, 2024
207
11-217
Total
Insurance Compensated Retiree Equipment Information
Internal
Reserve Absences Insurance Maintenance Technology Service Funds Cash flows from operating activi
ties:

Receipts from user departments 13,801,463$ 2,999,486$ 4,359,641$ 8,532,040$ 8,213,165$ 37,905,795$ Payments to employees (4,522,234) (1,786,620) - (1,213,185) (3,006,263) (10,528,302) Payments to suppliers (9,338,468) - (13,240,726) (2,830,262) (3,541,539) (28,950,995) Other operating cash recei
pts 206,884 - 3,079,818 462,496 610,000 4,359,198 Net cash provided (used) by operati
ng activities 147,645 1,212,866 (5,801,267) 4,951,089 2,275,363 2,785,696 Cash flows from noncapital financin
g activities:

Cash received from other funds -
- 5,802,500 - - 5,802,500 Net cash provided by noncapital fin
ancing activities - - 5,802,500 - - 5,802,500 Cash flows from capital and related fi
nancing activities:

Acquisition of capital assets - - - (3,267,454) (413,241) (3,680,695) Lease liabilities and rel
ated - - - - (63,152) (63,152) Subscription liabil
ities and related - - - (177,102) (193,890) (370,992) Proceeds from sale of capital assets -
- - 284,690 237 284,927 Net cash (used) for capital and rel
ated financing activities - - - (3,159,866) (670,046) (3,829,912) Cash flows from investing activ
ities:

Investment income 1,997,065
331,927 188,657 979,575 584,423 4,081,647 Net cash provided by investing
activities 1,997,065 331,927 188,657 979,575 584,423 4,081,647 Net increase in cash and cash equiv
alents 2,144,710 1,544,793 189,890 2,770,798 2,189,740 8,839,931 Cash and cash equivalents, beg
inning 41,908,438 6,208,195 742,138 17,972,583 10,656,998 77,488,352 Cash and cash equivalents, endi
ng 44,053,148$ 7,752,988$ 932,028$ 20,743,381$ 12,846,738$ 86,328,283$ Reconciliation to the statemen
t of net position:

Cash and investments report
ed on statement of net position 44,053,148$ 7,752,988$ 932,028$ 20,743,381$ 12,846,738$ 86,328,283$ Cash and cash equiv
alents 44,053,148$ 7,752,988$ 932,028$ 20,743,381$ 12,846,738$ 86,328,283$ Reconciliation of operating i
ncome (loss) to net cash
provided by operating
activities:

Operating income (loss) (23,
320,220)$ 501,367$ (5,987,955)$ 1,945,473$ 1,747,115$ (25,114,220)$ Adjustments to reconcile operatin
g income (loss)
to net cash provided by op
erating activities:

Depreciation - - - 3,464,942 635,818 4,100,760 Changes in operati
ng assets and liabilities:
(Increase) decrease in
accounts receivable (26,216) - 48 1,577 - (24,591) (Increase) in i
nventories - - - (25,209) - (25,209) (Increase) decrease in
prepaid items 49,178 - 189,376 (57,837) (60) 180,657 Increase (decrease) i
n accounts payable and accrued
payroll 14,238,236 (245,627) (2,
736) (325,273) (2,111) 13,662,489 Increase in work
ers' compensation 7,054,410 - - - - 7,054,410 Increase in gen
eral liability 2,152,257 - - - - 2,152,257 Increase in comp
ensated absences - 957,126 - - - 957,126 Increase in net
pension liability and deferred cash flows - - - 35,627 71,410 107,037 (Decrease) in net OPEB l
iability and deferred cash flows - - - (88,211) (176,809) (265,020) Total adju
stments 23,467,865 711,499 186,688 3,005,616 528,248 27,899,916 Net cash provi
ded (used) by operating activities 147,645$ 1,212,866$ (5,801,267)$ 4,951,089$ 2,275,363$ 2,785,696$ Noncash investing, capital
, and financing activities:

Net increase in fair val
ue of investments 748,014$ 124,970$ 85,176$ 370,906$ 220,025$ 1,549,091$ Obtaining an intangible right to use lease asset - - - - 9,837 9,837 Total of non
cash activities 748,014$ 124,970$ 85,176$ 370,906$ 229,862$ 1,558,928$

CITY OF NEWPORT BEACH
Combining Statement of Cash
Flows
For the Year Ended June 30, 2024
Internal Service Funds
208
11-218

SUPPLEMENTARY INFORMATION
209
11-219

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210
11-220

CUSTODIAL FUNDS

Custodial Funds are used to account for assets held by the City in a trustee capacity, or as an agent for other government entities, private organizations, or individuals.

The City of Newport Beach Custodial Funds are listed below:

The Special Assessment District Fund is used to account for funds received from affected property owners and payable to holders of 1911 Act and 1915 Act special assessment bonds.

The Tourism Business Improvement Fund is used to account for the Newport Beach Tourism Business Improvement District’s special assessment on short term room rental revenue collected by the City for Visit Newport Beach Inc.

The Other Business Improvement Fund is used to account for monies collected from local business districts for district property improvements and business enhancement.

The Police Custodial Fund is used to account for monies received by the City’s police department in a custodial capacity, such as warrants and items pending adjudication.

The Flexible Spending Account Fund is used to account for monies withheld by the City from employees’ wages based on their voluntary enrollment in flexible spending accounts.
211
11-221
Custodial Funds
Special Tourism Other Flexible Total
Assessment Business
Business Police Spending Custodial
District Improvement Improvement Custodial Account Funds Assets
Cash and investments 25,705$ 6,420$
5,605$ 247,619$ - $ 285,349$ Restricted cash and investments with fiscal agent 4,245,553 - - - - 4,245,553 Receivable:

Interest 86 - - - - 86 Intergovernmental receivable 45,980 - - - - 45,980 Total assets 4,317,324
6,420 5,605 247,619 - 4,576,968 Liabilities
Due to others 516 6,420 5,605 645 - 13,186 Total liabilities 516
6,420 5,605 645 - 13,186 Net Position
Restricted for:

Individuals, organizations,
and other governments 4,316,808 - - 246,974 - 4,563,782 Total net position 4,316,808$ -$ -$ 246,974$ - $ 4,563,782$

CITY OF NEWPORT BEACH
Custodial Funds
Combining Statement of Fiduciary
Net Position
June 30, 2024
212
11-222
Custodial Funds
Special Tourism Other Flexible Total
Ass
essment Business Business Police Spending Custodial
District Improvement Improvement Custodial Account Funds Additions
Special assessments 3,277,101$ -$ -$ -$ -$ 3,277,101$ Investment earnings 151,966 - - 866 - 152,832 Other 1,080,001 - - 85,059 - 1,165,060 Total additions 4,509,
068 - - 85,925 - 4,594,993 Deductions
Debt service 2,007,651 - - - - 2,007,651 Administrative 96,944 - - - - 96,944 Other - - - 127,861 - 127,861 Total deductions 2,10
4,595 - - 127,861 - 2,232,456 Net increase (decreas
e) in fiduciary net position 2,404,473 - - (41,936) - 2,362,537 Net position, beginning o
f year, as previously reported 1,912,335 - - 288,910 25,728 2,226,973 Restatement for removal of F
lexible Spending Account Fund - - - - (25,728) (25,728) Net position, beginning o
f year, as restated 1,912,335 - - 288,910 - 2,201,245 Net position, end of year 4,
316,808$ -$ -$ 246,974$ - $ 4,563,782$

CITY OF NEWPORT BEACH
Custodial Funds
Combining Sta
tement of Changes in Fiduciary Net Position
For the Year Ended June 30, 2024
213
11-223

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214
11-224
215
11-225

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216
11-226

FINANCIAL TRENDS

This section of the City of Newport Beach’s Annual Comprehensive Financial Report (ACFR) presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City’s overall financial health. The statistical information presented herein is un-audited.

The following schedules contain trend information illustrating how the City’s financial performance and well-being have changed over time:
• Net Position by Component
• Changes in Net Position
• Fund Balances of Governmental Funds
• Changes in Fund Balance of Governmental Funds

Sources: Unless otherwise noted, the information in these schedules is derived from the A nnual Comprehensive Financial Reports and underlying accounting records for the relevant years.

217
11-227
20151 20162 20173 20184
Net investment in capital assets 2,176,644,408$ 2,193,773,102$ 2,201,552,683$ 2,208,832,391$ Restricted 45,689,702 44,033,677 45,753,736 49,791,908 Unrestricted (150,532,773) (130,468,268) (133,461,197) (122,024,754) 2,071,801,337$ 2,107,338,511$ 2,113,845,222$ 2,136,599,545$ Business-type activities:

Net investment in capital assets 113,914,514$ 117,055,576$ 116,238,944$ 119,375,596$ Unrestricted 21,756,124 23,430,189 28,890,311 29,183,382 135,670,638$ 140,485,765$ 145,129,255$ 148,558,978$ Primary government:

Net investment in capital assets 2,290,558,922$ 2,310,828,678$ 2,317,791,627$ 2,328,207,987$ Restricted 45,689,702 44,033,677 45,753,736 49,791,908 Unrestricted (128,776,649) (107,038,079) (104,570,886) (92,841,372) 2,207,471,975$ 2,247,824,276$ 2,258,974,477$ 2,285,158,523$ 1 2
3 4
5 6
The City of Newport Beach implemented GASB 100 for the fiscal year ended June 30, 2024.

CITY OF NEWPORT BEACH
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2022 data varies from trend due to receipt of revenues such as property taxes and sales taxes that were not spent or restricted by the end of the fiscal year.

The City of Newport Beach implemented GASB 63 and GASB 65 for the fiscal year ended June 30, 2013.

The City of Newport Beach implemented GASB 68 for the fiscal year ended June 30, 2015.

The City of Newport Beach implemented GASB 75 for the fiscal year ended June 30, 2018.

The City of Newport Beach implemented GASB 87 for the fiscal year ended June 30, 2022.

Reflects restatement of net position due to unbilled receivables adjustments related to fiscal year ended June 30, 2023.

Fiscal Year
Governmental activities:

Total governmental activities
Total business-type activities
Total primary government
Reflects restatement of net position due to deferred outflow adjustments related to fiscal year ended June 30, 2017.

Reflects restatement of net position due to implementation of GASB 75 in fiscal year ended June 30, 2018.

Reflects restatement of net position due to adjustments for capital assets and compensated absences liability in fiscal year ended June 30, 2019.

Reflects restatement of net position due to compensated absences and deferred outflow adjustments related to fiscal year ended June 30, 2016.

The City of Newport Beach implemented GASB 96 for the fiscal year ended June 30, 2023. 218
11-228
2019 2020 2021 2022 20236 2024
2,218,040,304$ 2,217,852,660$ 2,227,572,605$ 2,223,773,786$ 2,256,305,577$ 2,275,099,514$ 56,426,811 67,708,225 67,189,020 78,100,496 79,152,428 123,444,563 (102,035,181) (90,214,086) (72,301,558) (8,183,288) 20,117,377 28,001,461 2,172,431,934$ 2,195,346,799$ 2,222,460,067$ 2,293,690,994$ 2,355,575,382$ 2,426,545,538$ 119,346,350$ 120,291,689$ 124,775,772$ 128,244,924$ 131,015,969$ 132,331,781$ 30,331,669 30,276,662 27,039,499 28,559,633 25,105,814 20,202,940 149,678,019$ 150,568,351$ 151,815,271$ 156,804,557$ 156,121,783$ 152,534,721$ 2,337,386,654$ 2,338,144,349$ 2,352,348,377$ 2,352,018,710$ 2,387,321,546$ 2,407,431,295$ 56,426,811 67,708,225 67,189,020 78,100,496 79,152,428 123,444,563 (71,703,512) (59,937,424) (45,262,059) 20,376,345 5 45,223,191 48,204,401 2,322,109,953$ 2,345,915,150$ 2,374,275,338$ 2,450,495,551$ 2,511,697,165$ 2,579,080,259$

CITY OF NEWPORT BEACH
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
219
11-229
2015 2016 2017 2018
24,558,041$ 19,335,275$ 20,443,569$ 19,011,099$ 96,945,872 91,046,455 102,494,314 107,647,562 45,774,939 45,443,988 54,039,601 47,615,000 10,073,248 9,943,868 12,056,086 12,377,394 22,418,287 22,700,052 26,583,440 27,307,115 7,711,334 7,615,094 7,472,188 7,381,743 Total governmental activities expenses 207,481,721 196,084,732 223,089,198 221,339,913 21,175,954 21,605,197 22,004,013 23,724,918 3,452,398 3,818,165 4,218,926 4,158,155 Total business-type activities expenses 24,628,352 25,423,362 26,222,939 27,883,073 Total primary government expenses 232,110,073 221,508,094 249,312,137 249,222,986 General government 3,647,210 3,722,557 5,089,123 5,355,887 Public safety 19,386,017 19,108,222 19,899,242 20,733,883 Public works 5,276,991 5,319,510 5,214,426 5,789,579 Community development 8,608,645 8,419,588 10,838,114 9,956,226 Community services 13,667,775 13,964,018 13,653,466 13,974,329 Operating grants and contributions: 10,673,286 17,826,914 11,632,188 11,943,941 Capital grants and contributions: 38,157,665 1 2,717,504 27,993,317 1 1,815,464 99,417,589 71,078,313 94,319,876 69,569,309 Water 27,705,129 24,499,952 25,371,307 26,931,193 Wastewater 3,326,362 3,065,762 3,161,114 3,445,772 Operating grants and contributions: - - - - 31,031,491 27,565,714 28,532,421 30,376,965 130,449,080 98,644,027 122,852,297 99,946,274 (108,064,132) (125,006,419) (128,769,322) (151,770,604) 6,403,139 2,142,352 2,309,482 2,493,892 (101,660,993)$ (122,864,067)$ (126,459,840)$ (149,276,712)$ General revenues and other changes in net position:

Property tax 84,121,461$ 91,516,611$ 96,964,060$ 101,593,290$ Sales tax 24,832,412 33,937,986 33,702,895 36,373,253 Sales tax in-lieu 8,046,424 2,870,474 - - Transient occupancy tax 20,369,158 21,083,199 22,382,361 22,857,737 Business license tax 4,141,282 4,024,386 4,149,016 4,282,935 Franchise tax 4,189,130 4,047,584 4,026,005 4,228,469 Other taxes 354,919 327,009 358,209 3,346,987 Investment income 437,272 584,259 589,001 632,808 Net increase (decrease) in fair value of investments 61,337 376,311 - - Other 3,161,567 4,001,486 2,290,482 3,416,348 Transfers - - (3,500,000) - 149,714,962 162,769,305 160,962,029 176,731,827 Investment income 123,445 216,576 77,752 184,906 Net increase (decrease) in fair value of investments 34,921 148,527 - - Other - 2,375,000 - - Capital contributions - 22,516 - - Transfers - - 3,500,000 - 158,366 2,762,619 3,577,752 184,906 149,873,328 165,531,924 164,539,781 176,916,733 41,650,830 37,762,886 32,192,707 24,961,223 6,561,505 4,904,971 5,887,234 2,678,798 48,212,335$ 42,667,857$ 38,079,941$ 27,640,021$ 1 CITY OF NEWPORT BEACH
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
Fiscal Year
Data varies from trend because of one-time receipt of developer contributions.

Changes in net position
Governmental activities
Business-type activities
Total primary government
Total primary government
Total primary government program revenues
Net revenues (expenses):

Governmental activities
Business-type activities
Total net revenues (expenses)
Governmental activities:

Taxes:

Total governmental activities
Business-type activities:

Total business-type activities
Total governmental activities program revenues
Business-type activities:

Charges for services:

Total business-type activities program revenues
Business-type activities:

Water
Wastewater
Program revenues:

Governmental activities:

Charges for services:

Interest on long-term debt
Expenses:

Governmental activities:

General government
Public safety
Public works
Community development
Community services
220
11-230
2019 2020 2021 2022 2023 2024
20,549,224$ 20,714,050$ 20,177,482$ 19,374,179$ 26,911,510$ 28,392,550$ 111,556,065 119,194,302 119,184,958 104,767,466 121,309,057 151,625,944 53,339,878 60,054,860 63,689,155 65,031,715 75,904,138 88,359,562 11,493,204 12,842,020 12,157,226 9,664,500 13,048,442 16,813,900 27,758,097 26,668,079 28,214,205 24,508,702 27,937,349 33,034,132 7,187,971 7,064,521 7,321,612 6,877,577 6,666,044 6,215,237 231,884,439 246,537,832 250,744,638 230,224,139 271,776,540 324,441,325 26,898,075 27,387,120 28,943,243 27,117,471 30,701,834 37,322,293 4,222,228 4,291,755 5,223,245 4,094,448 5,343,891 6,959,273 31,120,303 31,678,875 34,166,488 31,211,919 36,045,725 44,281,566 263,004,742 278,216,707 284,911,126 261,436,058 307,822,265 368,722,891 5,887,265 3,846,962 2,914,007 3,625,809 12,386,628 15,953,090 21,979,376 22,232,248 22,038,904 23,156,703 26,273,944 27,903,642 5,778,441 5,054,694 5,067,478 7, 538,103 8,770,525 9,397,103
9,902,445 9,599,848 10,491,970 11,119,757 11,269,905 10,849,048 13,556,360 16,936,285 17,601,288 22,302,788 15,753,446 17,370,410 14,021,506 14,659,016 20,361,620 16,800,039 20,131,513 34,497,961 6,638,356 7,352,407 7,658,387 8,693,429 5,809,562 35,646,295 77,763,749 79,681,460 86,133,654 93,236,628 100,395,523 151,617,549 26,843,751 27,100,429 30,739,726 32,104,202 32,033,631 33,842,356 4,069,265 4,110,815 4,618,186 4,825,249 4,666,685 5,274,889 - - - 116,629 - 115,499
30,913,016 31,211,244 35,
357,912 37,046,080 36,700,316 39,232,744 108,676,765 110,892,704 121,491,566 130,282,708 137,095,839 190,850,293 (154,120,690) (166,856,372) (164,610,984) (136,987,511) (171,381,017) (172,823,776) (207,287) (467,631) 1,191,424 5,834,161 654,591 (5,048,823) (154,327,977)$ (167,324,003)$ (163,419,560)$ (131,153,350)$ (170, 726,426)$ (177,872,599)$ 108,365,261$ 113,313,535$ 119,157,057$ 124,335,985$ 138,358,730$ 146,136,873$ 37,168,063 36,232,969 38,956,275 46,164,860 46,552,459 43,444,542 - - - - - -
24,697,446 21,097,384 16,886,197 26,677,331 30,201,649 31,736,961 4,428,440 4,882,419 4,481,349 4,363,145 4,901,385 4,896,557 4,286,496 4,394,156 4,204,224 4,561,278 4,996,526 5,152,384 2,633,720 2,592,369 4,166,549 4,333,071 181,800 203,135 2,644,319 2,621,488 2,603,982 1,995,214 3,208,250 5,834,247 2,234,249 2,520,033 (2,086,189) (6,856,640) (687,766) 3,534,164 3,495,085 2,116,884 3,354,808 2,644,194 5,552,372 2,855,069 - - - - - -
189,953,079 189,771,237 191,724,252 208,218,438 233,265,405 243,793,932 713,970 732,099 525,295 345,218 520,736 893,332
612,358 625,864 (469,799) (1,190,
093) (262,867) 568,429
- - - - - -
- - - - - -
- - - - - -
1,326,328 1,357,963 55,496 (844,
875) 257,869 1,461,761
191,279,407 191,129,200 191,779,748 207,373,563 233,523,274 245,255,693 35,832,389 22,914,865 27,113,268 71,230,927 61,884,388 70,970,156 1,119,041 890,332 1,246,920 4,989,286 912,460 (3,587,062) 36,951,430$ 23,805,197$ 28,360,188$ 76,220,213$ 62,796,848$ 67,383,094$ Fiscal Year

CITY OF NEWPORT BEACH
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
221
11-231
2015 2016 2017 2018
General fund:

Nonspendable 15,784,396$ 15,210,896$ 14,434,017$ 14,050,930$ Restricted 5,389,810 3,083,133 3,797,009 4,412,302 Committed 11,847,852 2,726,020 1 10,570,638 2 13,444,487 Assigned 1,421,225 4,201,311 567,132 590,368 Unassigned 55,509,258 56,618,041 60,009,244 61,415,049 Total general fund 89,952,541$ 81,839,401$ 1 89,378,040$ 2 93,913,136$ All other governmental funds:

Nonspendable 4,669,269$ 4,629,781$ 4,666,256$ 4,787,243$ Restricted 29,842,384 33,662,859 31,950,139 38,629,419 Committed 26,159,261 40,248,977 49,510,047 41,731,742 Unassigned (12,495,729) (15,422,984) (6,308,331) (376,162) Total all other governmental funds 48,175,185$ 63,118,633$ 79,818,111$ 84,772,242$ Total all governmental funds 138,127,726$ 144,958,034$ 169,196,151$ 178,685,378$ 1 2
3 4
5 6
Fiscal Year

CITY OF NEWPORT BEACH
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Data varies from trend due to the moving of general fund capital projects to a separate capital project fund.

Data varies from trend due to additional funds set aside for seawall construction and pension-related items.

Data varies from trend due to the relocation of restricted funds to special revenue funds.

Data varies from trend due to the City's absence of fund balance not restricted or committed to be used for specific purposes in fiscal year ended June 30, 2022.

Data varies from trend due to additional funds set aside mainly in the Facilities Financial Planning Reserve Fund and Unrestricted Capital Improvements Fund.

Data varies from trend due to issuance of special Assessment District bonds. 222
11-232
2019 2020 2021 2022 2023 2024
13,147,221$ 11,864,115$ 10,637,097$ 9,407,143$ 8,239,567$ 7,052,603$ 4,757,437 5,710,434 4,876,025 - 3 - - 13,335,675 2,210,811 3,235,746 4,429,573 5,465,426 6,786,845 1,199,682 2,598,828 1,489,350 - 4 - - 64,146,123 76,699,284 85,715,180 83,302,665 77,737,532 82,601,740 96,586,138$ 99,083,472$ 105,953,398$ 97,139,381$ 91,442,525$ 96,441,188$ 4,715,545$ 4,646,529$ 4,707,330$ 4,690,430$ 4,650,931$ 4,771,150$ 45,958,167 53,310,518 63,914,627 73,013,208 73,657,409 112,762,753 6 40,732,124 48,032,259 47,863,154 73,243,534 5 78,218,834 81,317,521 (253) (50,137) (136,299) (119,371) (11,625) (229,781) 91,405,583$ 105,939,169$ 116,348,812$ 150,827,801$ 156,515,549$ 198,621,643$ 187,991,721$ 205,022,641$ 222,302,210$ 247,967,182$ 247,958,074$ 295,062,831$

CITY OF NEWPORT BEACH
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
$-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fund Balances
Total General Fund
Total all other Governmental Funds
223
11-233
2015 2016 2017 2018
Revenues:

Taxes 146,664,903$ 158,386,385$ 162,184,218$ 171,982,240$ Intergovernmental 11,813,208 17,262,147 17,073,653 16,148,754 Licenses, permits and fees 14,676,754 6,571,123 9,844,908 6,405,668 Charges for services 16,914,210 18,827,991 19,197,065 19,828,786 Fines and forfeitures 3,732,405 3,684,602 3,590,700 3,181,823 Investment income 928,729 1,157,539 772,546 1,143,210
Net increase (decrease) in fair value of investments 177,485 769,460 - - Property income 21,406,667 22,259,425 23,553,188 25,430,217 Donations 22,249,427 4,190,822 16,827,889 414,123
Special assessments - - - -
Other 6,984,418 2,982,924 2,277,322 2,893,770
Total revenues 245,548,206 236,092,418 255,321,489 247,428,591 Expenditures:

Current:

General government 14,060,512 14,629,672 15,086,397 16,099,310 Public safety 94,568,122 96,225,784 98,750,981 109,760,129 Public works 33,694,578 36,000,905 35,961,024 38,012,230 Community development 9,876,706 10,913,205 11,696,779 12,979,656 Community services 20,235,546 21,784,680 23,607,284 25,538,966 Capital outlay 47,169,671 31,934,463 30,822,972 24,054,866 Debt service:

Principal 4,183,000 4,272,000 4,401,000 3,335,000
Interest and fiscal charges 7,957,811 7,839,341 7,704,957 7,617,107 Total expenditures 231,745,946 223,600,050 228,031,394 237,397,264 13,802,260 12,492,368 27,290,095 10,031,327
Other financing sources (uses):

Transfers in 53,281,956 48,523,132 45,342,446 45,308,862 Transfers out (57,431,956) (54,185,192) (49,390,226) (45,850,962) Proceeds from sale - - 995,802 -
Certificates of participation issued - - - -
Premium on certificates of participation issued - - - - Proceeds from loan issuance 1,339,000 - - -
Payment to refunded loan escrow agent (1,339,000) - - - Leases (as lessee) - - - -
Inception of subscription-based IT arrangements - - - - (4,150,000) (5,662,060) (3,051,978) (542,100)
Net change in fund balances 9,652,260$ 6,830,308$ 24,238,117$ 9,489,227$ Debt service as a percentage of

6.6% 7.2% 6.0% 5.3%
1 CITY OF NEWPORT BEACH
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Data varies from trend due to implementation of GASB 96 for the fiscal year ended June 30, 2023. noncapital expenditures
Excess (deficiency) of revenues over (under)
expenditures
Total other financing sources (uses)
Fiscal Year
224
11-234
2019 2020 2021 2022 2023 2024
183,455,182$ 182,983,069$ 188,351,057$ 211,259,402$ 226,067,296$ 232,533,623$ 15,818,543 12,672,931 22,233,872 19,683,307 21,080,285 27,715,232 6,302,603 5,783,862 6,566,555 6,995,700 6,719,969 6,688,111 19,472,866 21,125,622 18,434,439 22,897,475 25,214,184 25,217,364 3,347,714 3,509,883 3,923,726 4,191,518 3,892,875 4,195,196 3,490,992 3,765,753 3,201,376 2,756,712 4,525,340 9,386,746 2,938,136 3,477,299 (2,634,682) (8,900,762) (465,873) 4,584,645 26,674,107 25,651,360 28,842,374 33,770,750 35,830,362 41,198,758 402,709 795,561 5,491,871 1,805,249 717,157 6,070,830
- - - 8,086,594 4,948,430 26,843,142 5,173,716 5,950,279 3,504,103 1,441,813 3,412,302 1,175,255 267,076,568 265,715,619 277,914,691 303,987,758 331,942,327 385,608,902 16,769,920 15,968,085 17,154,507 17,397,786 20,680,878 22,007,758 116,054,531 118,290,847 126,006,313 127,590,486 132,441,032 140,132,544 44,132,877 45,730,965 46,817,293 54,293,534 56,046,234 65,532,190 12,310,621 12,612,751 12,996,840 13,021,562 14,735,582 15,734,543 26,372,495 24,474,242 26,745,189 26,421,141 27,558,760 30,060,134 26,347,312 20,376,106 33,728,085 28,603,393 68,434,127 50,776,034 3,470,000 3,576,000 3,247,000 5,138,250 5,296,166 5,335,081 7,428,469 7,265,703 7,306,143 7,141,264 6,908,693 6,698,344 252,886,225 248,294,699 274,001,
370 279,607,416 332,101,472 336,276,628
14,190,343 17,420,920 3,913,321 24,380,342 (159,145) 49,332,274 54,664,532 40,373,
981 70,379,824 76,061,564 128,499,591 97,432,054
(59,548,532) (40,763,981) (65,965,012) (74,776,934) (128,879,043) (103,234,554) - - - - - - - - 7,860,000 - - - - - 1,373,936 - - - - - - - - - - - - - - - - - - - - 3,259,414 - - - - 529,489 1 315,569 (4,884,000) (390,000) 13,648,748 1,284,630 150,037 (2,227,517) 9,306,343$ 17,030,920$ 17,562,069$ 25,664,972$ (9,108)$ 47,104,757$

4.8% 4.8% 4.2% 4.8% 4.5% 4.2%

CITY OF NEWPORT BEACH
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Fiscal Year
225
11-235

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226
11-236

REVENUE CAPACITY

The following schedules present factors affecting the City’s ability to generate its own revenue and its most significant local revenue source, the property tax:
• Assessed Value and Estimated Actual Value of Taxable Property • Direct and Overlapping Property Tax Rates
• Principal Property Tax Payers
• Property Tax Levies and Collections

Sources: Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports and underlying accounting records for the relevant years.

227
11-237
Fiscal Year
Ended
June 30 Residential Commercial Other Unsecured
Total Taxable
Assessed Value Change
Total Direct
Tax Rate
2015 36,814,891,583 5,007,508,388 1,348,136,131 1,581,520,801 44,752,056,903 5.69% 1.000% 2016 39,263,791,190 5,264,898,550 1,394,764,145 1,465,016,213 47,388,470,098 5.89% 1.000% 2017 41,834,060,284 5,539,551,197 1,398,481,252 1,569,593,832 50,341,686,565 6.23% 1.000% 2018 44,862,969,434 5,953,148,011 1,499,414,812 1,464,683,763 53,780,216,020 6.83% 1.000% 2019 48,246,937,786 6,466,645,074 1,474,416,367 1,513,162,553 57,701,161,781 7.29% 1.000% 2020 50,791,887,238 6,807,750,346 1,552,189,492 1,592,979,478 60,744,806,554 5.27% 1.000% 2021 53,636,707,086 6,979,031,018 1,428,005,141 1,645,923,436 63,689,666,681 4.85% 1.000% 2022 56,171,689,696 7,152,717,180 1,745,857,017 1,509,466,705 66,579,730,598 4.54% 1.000% 2023 60,461,442,254 7,647,078,297 1,489,884,026 1,731,351,434 71,329,756,011 7.13% 1.000% 2024 64,292,506,871 8,048,003,322 1,681,329,931 1,908,193,032 75,930,033,156 6.45% 1.000% NOTE:

Source: HdL, Coren & Cone

CITY OF NEWPORT BEACH
Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
In 1978, the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only re-assessed as a result of new construction activity or at the time it is sold to a new owner. At that point, the property is reassessed based upon the added value of the construction or at the purchase price or economic value of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

Secured
228
11-238
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

1.000$ 1.000$ 1.000$ 1.000$ 1.000$ 1.000$ 1.000$ 1.000$ 1.000$ 1.000$ Total City Direct Rate 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 Overlapping Rates:

Water districts 0.047 0.047 0.047 0.047 0.047 0.032 0.047 0.047 0.047 0.051

0.182 0.183 0.173 0.176 0.161 0.173 0.186 0.170 0.175 0.158 Total Overlapping Rate 0.229 0.230 0.220 0.223 0.208 0.205 0.233 0.217 0.222 0.209 Total Direct & Overlapping Rate 1.229$ 1.230$ 1.220$ 1.223$ 1.208$ 1.205$ 1.233$ 1.217$ 1.222$ 1.209$ NOTE:

Source: HdL, Coren & Cone

CITY OF NEWPORT BEACH
Direct and Overlapping Property Tax Rates
(Rate per $100 of assessed value)
Last Ten Fiscal Years
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of other debt obligations.

School districts
City Direct Rates:

City basic rate
Fiscal Year
229
11-239
Taxpayer
Taxable Assessed
Value Rank
Percent of Total
City Taxable
Assessed Value
Taxable Assessed
Value Rank
Percent of Total
City Taxable
Assessed Value
The Irvine Company 833,108,564$ 1 1.10% 1,835,109,685$ 1 4.10% PH Finance LLC 346,858,756 2 0.46% N/A - 0.00%
Villas at Fashion Island LLC 285,563,203 3 0.38% N/A - 0.00% Fashion Island Retail LLC 242,270,076 4 0.32% N/A - 0.00% Newport Center Hotel LLC 232,256,357 5 0.31% N/A - 0.00% HG Newport Owner LLC 193,028,546 6 0.25% N/A - 0.00% 520 Newport Center Drive LLC 190,606,965 7 0.25% N/A - 0.00% Newport Bluffs LLC 173,753,982 8 0.23% 146,556,073 3 0.33% 650 Newport Center Drive LLC 172,594,406 9 0.23% N/A - 0.00% Bay Island Club 159,120,374 10 0.21% 82,471,372 10 0.18% 2,829,161,229$ 3.73% 2,064,137,130$ 4.61%
Source: HdL, Coren & Cone

CITY OF NEWPORT BEACH
Principal Property Taxpayers
Current Year and Nine Years Ago
2024 2015
230
11-240

CITY OF NEWPORT BEACH
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Year
Ended
June 30
Taxes Levied
for the Fiscal
Year Amount 1
Percent of
Levy
Collections in
Subsequent
Years 2 Amount
Percent of
Levy
2015 83,843,488 82,191,604 98.03% 642,292 82,833,896 98.80% 2016 84,166,940 81,762,526 97.14% 612,863 82,375,389 97.87% 2017 86,264,321 84,019,053 97.40% 574,124 84,593,177 98.06% 2018 92,139,181 90,279,099 97.98% 581,969 90,861,068 98.61% 2019 98,471,700 96,356,203 97.85% 646,203 97,002,406 98.51% 2020 102,636,451 100,701,002 98.11% 886,688 101,587,690 98.98% 2021 107,647,017 105,781,072 98.27% 862,772 106,643,844 99.07% 2022 113,318,692 110,354,271 97.38% 789,969 111,144,240 98.08% 2023 123,844,578 121,011,910 97.71% 1,020,161 122,032,071 98.54% 2024 129,506,001 126,637,893 97.79% - 3 126,637,893 97.79% 1 2
3 Source: Orange County Auditor Controller's Office
The total amount of Fiscal Year 2024 delinquent taxes collected in subsequent years was not available as of the date the information was collected for the City's Annual Comprehensive Financial Report.

Collected within the Fiscal
Year of Levy Total Collections to Date
Exclusive of penalty charges.

Net collections reflect deductions for refunds and impoundments. 231
11-241

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232
11-242

DEBT CAPACITY

The following schedules exhibit the City’s levels of outstanding debt over time, to help readers assess the affordability of the current level of outstanding debt, and the City’s ability to issue additional debt:
• Ratios of Outstanding Debt by Type
• Ratios of General Bonded Debt Outstanding
• Direct and Overlapping Debt
• Legal Debt Margin Information

Sources: Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports and underlying accounting records for the relevant years.

233
11-243

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234
11-244
Fiscal
Year
Ended
June 30
Certificates of
Participation 1
Pre-
Annexation
Agreement CDBG Loan Leases 3
Subscription-
based
Information
Technology
Arrangements 3
Total
Governmental
Activities Leases 3
Total Business-type
Activities
Total Primary
Government
Percentage of
Personal
Income 2
Debt Per
Capita 2
2015 117,197,765 2,400,000 1,339,000 - - 120,936,765 - - 120,936,765 1.77% 1,386 2016 114,137,212 1,200,000 1,207,000 - - 116,544,212 - - 116,544,212 1.77% 1,383 2017 110,956,659 - 1,066,000 - - 112,022,659 - - 112,022,659 1.66% 1,319 2018 107,651,106 - 916,000 - - 108,567,106 - - 108,567,106 1.48% 1,245 2019 104,220,553 - 756,000 - - 104,976,553 - - 104,976,553 1.36% 1,204 2020 100,695,000 - 585,000 - - 101,280,000 - - 101,280,000 1.24% 1,181 2021 106,781,026 - 403,000 - - 107,184,026 - - 107,184,026 1.31% 1,248 2022 102,698,895 - 208,000
13,321,040 - 116,227,935 1,512,574 1,512,574 117,740,509 1.34% 1,406 2023 98,616,764 - - 12,274,149 2,235,132 113,126,045 3,820,774 3,820,774 116,946,819 1.27% 1,402 2024 94,389,633 - - 14,339,382 1,832,755 110,561,770 3,776,654 3,776,654 114,338,424 1.22% 1,387

1 2 These ratios are calculated using personal income and population for the prior calendar year. 3 The GASB 87 and GASB 96 debts on this schedule are not money borrowed by the City, but are present-value calculations of estimated future payments by the City based on assumptions specified in GASB 87 and GASB 96. The City of Newport Beach implemented GASB 87 for the fiscal year ended June 30, 2022. The City of Newport Beach implemented GASB 96 for the fiscal year ended June 30, 2023.

CITY OF NEWPORT BEACH
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Amounts include any applicable bond premium.

Governmental Activities
Note: This schedule excludes claims and judgments, employee compensated absence, pension, OPEB, and Early Retirement Incentive Plan liabilities. Details regarding the City's outstanding debt can be found in the notes to the financial statements.

Business-type Activities
235
11-245
Fiscal Year
Ended
June 30
Certificates of
Participation1
Amounts
Restricted for
Debt Service Total
Percent of
Assessed
Value2
General
Bonded Debt
Per Capita
2015 117,197,765 (2,350,210) 114,847,555 0.26% 1,316 2016 114,137,212 (2,362,904) 111,774,308 0.24% 1,326 2017 110,956,659 (2,364,034) 108,592,625 0.22% 1,279 2018 107,651,106 (2,384,338) 105,266,768 0.20% 1,207 2019 104,220,553 (2,362,228) 101,858,325 0.18% 1,168 2020 100,695,000 (1,159,389) 99,535,611 0.16% 1,160 2021 106,781,026 (2,255,795) 104,525,231 0.16% 1,217 2022 102,698,895 (2,199,363) 100,499,532 0.15% 1,200 2023 98,616,764 (2,183,979) 96,432,785 0.14% 1,156 2024 94,389,633 (2,323,115) 92,066,518 0.12% 1,117 1 2

Assessed value was used because the actual value of taxable property is not readily available in the State of California.

CITY OF NEWPORT BEACH
Ratios of General Bonded Debt
Last Ten Fiscal Years
Amounts include any applicable bond premium.
236
11-246
City Net Assessed Valuation: 75,930,033,156$
Percentage
Applicable (1)
Outstanding Debt
6/30/24
Estimated Share of
Overlapping Debt
OVERLAPPING DEBT:

Metropolitan Water District 1.961% 18,210,000$ 357,098$ Coast Community College District 35.244% 886,956,084 312,598,802 Rancho Santiago Community College District 2.678% 154,276,441 4,131,523 Rancho Santiago Community College District School Facilities Improvement District No. 1 5.019% 144,765,000 7,265,755 Laguna Beach Unified School District 14.567% 9,940,000 1,447,960 Laguna Beach Unified School District Community Facilities District No. 98-1 100.000% 6,410,000 6,410,000 Newport Mesa Unified School District 73.630% 215,994,635 159,036,850 Santa Ana Unified School District 6.180% 409,228,633 25,290,330 Irvine Ranch Water District Improvement Districts 2.671% - 100.000% 399,676,768 43,283,102
100.000% 13,300,000 13,300,000
100.000% 8,175,000 8,175,000
City of Newport Beach 1915 Act Bonds 100.000% 37,046,036 37,046,036 Orange County Newport Coast Assessment District No. 01-1 100.000% 3,182,000 3,182,000 Orange County Newport Coast Reassessment District No. 17-1R 100.000% 19,270,000 19,270,000 Orange County General Fund Obligations 9.862% 440,385,000 43,430,769 Orange County Board of Education General Fund Obligations 9.862% 10,030,000 989,159 Coast Community College District General Fund Obligations 35.244% 1,075,000 378,873 Coast Community College District Pension Obligation Bonds 35.244% 925,000 326,007 Santa Ana Unified School District General Fund Obligations 6.180% 42,399,216 2,620,272 TOTAL OVERLAPPING DEBT 2,821,244,813$ 688,539,536$ DIRECT DEBT:

City of Newport Beach Certificates of Participation 100.000% 94,389,633$ 94,389,633$ Workers' compensation payable 100.000% 23,450,563 23,450,563 Claims and judgments payable 100.000% 10,841,318 10,841,318 Compensated absences 100.000% 13,648,166 13,648,166 Leases (3) 100.000% 14,339,382 14,339,382 Subscription-based Information Technology Arrangements (3) 100.000% 1,832,755 1,832,755 TOTAL DIRECT DEBT 158,501,817$ 158,501,817$ TOTAL DIRECT AND OVERLAPPING DEBT 847,041,353$
GROSS COMBINED TOTAL DEBT (2) 847,041,353$
(1)
(2)
(3)
Ratios to 2023-24 Net Assessed Valuation:

Total Overlapping Debt 0.91%
Total Direct Debt ($158,501,817) 0.21%
Gross Combined Total Debt 1.12%
Source: California Municipal Statistics, Inc.

The GASB 87 and GASB 96 debts on this schedule are not money borrowed by the City, but are present-value calculations of estimated future payments by the City based on assumptions specified in GASB 87 and GASB 96. The City of Newport Beach implemented GASB 87 for the fiscal year ended June 30, 2022. The City of Newport Beach implemented GASB 96 for the fiscal year ended June 30, 2023.

The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value.

Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and non-bonded capital lease obligations.

CITY OF NEWPORT BEACH
Direct and Overlapping Debt
June 30, 2024
Bonita Canyon Public Facilities Financing Authority Community Facilities District No. 98-1 California Statewide Community Development Authority Community Facilities District No. 2018-3
237
11-247
2015 2016 2017 2018
44,752,056,903$ 47,388,470,098$ 50,341,686,565$ 53,780,216,020$ 25% 25% 25% 25%
11,188,014,226 11,847,117,525 12,585,421,641 13,445,054,005 15% 15% 15% 15%
1,678,202,134 1,777,067,629 1,887,813,246 2,016,758,101 General obligation bonds - - - - 1,678,202,134$ 1,777,067,629$ 1,887,813,246$ 2,016,758,101$ as a percentage of debt limit 0.0% 0.0% 0.0% 0.0%
NOTE:

Source: City Finance Department
The State of California Government Code Section 43605 provides for a legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value.

Effective with the 1981-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state.

Adjusted assessed valuation
Debt limit
Total net debt applicable to limit:

Legal debt margin
Conversion percentage
Assessed valuation
Fiscal Year
Total debt applicable to the limit
Debt limit percentage

CITY OF NEWPORT BEACH
Legal Debt Margin Information
Last Ten Fiscal Years
238
11-248
2019 2020 2021 2022 2023 2024
57,701,161,781$ 60,744,806,554$ 63,689,666,681$ 66,579,730,598$ 71,329,756,011$ 75,930,033,156$ 25% 25% 25% 25% 25% 25%
14,425,290,445 15,186,201,639 15,922,416,670 16,644,932,650 17,832,439,003 18,982,508,289 15% 15% 15% 15% 15% 15%
2,163,793,567 2,277,930,246 2,388,362,501 2,496,739,897 2,674,865,850 2,847,376,243 - - - - - - 2,163,793,567$ 2,277,930,246$ 2,388,362,501$ 2,496,739,897$ 2,674,865,850$ 2,847,376,243$

0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fiscal Year

CITY OF NEWPORT BEACH
Legal Debt Margin Information
Last Ten Fiscal Years
239
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240
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DEMOGRAPHIC AND ECONOMIC INFORMATION

The following schedules depict demographic and economic indicators to assist the reader in understanding the socio- economic environment in which the City’s financial activities take place:
• Demographic and Economic Statistics
• Principal Employers

Sources: Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports and underlying accounting records for the relevant years.

241
11-251
Fiscal Year Population1(1) Personal Income
(in thousands)
Per
Capita
Income(2)
Unemployment
Rate2(3)
2015 87,249 6,848,523 78,494 4.0%
2016 84,270 6,574,071 78,012 3.4%
2017 84,915 6,736,392 79,331 3.1%
2018 87,182 7,334,970 84,134 2.9%
2019 87,180 7,704,445 88,374 2.6%
2020 85,780 8,183,755 95,404 4.6%
2021 85,865 8,175,464 95,213 (4) 6.0%
2022 83,727 8,791,502 105,002 3.0%
2023 83,411 9,219,835 110,535 3.0%
2024 82,419 9,389,008 113,918 3.5%
1 2
Sources:

CITY OF NEWPORT BEACH
Demographic and Economic Statistics
Last Ten Fiscal Years
(4) HdL, Coren & Cone
(2) U.S. Census Bureau - American Community Survey 1-Year Estimates (3) State of California, Employment Development Department (1) California State Department of Finance, E-4 Population Estimates for Cities, Counties and State and E-1 Population and Housing Estimates for Cities, Counties and the State.

Population estimates are as of January 1 of the year shown and do not reflect revised estimates made available after the date the information was collected for the City's Annual Comprehensive Financial Report.

Unemployment rate represents an average of all monthly unemployment rates within a fiscal year.
242
11-252
Employer
Number of
Employees Rank
Percent of
Total
Employment
Number of
Employees Rank
Percent of
Total
Employment
Hoag Memorial Hospital 5,483 1 6.78% 4,567 1 5.48% Pacific Life Insurance 1,657 2 2.05% 1,258 2 1.51% PIMCO 1,168 3 1.44% 896 6 1.07%
Irvine Management Company 1,053 4 1.30% N/A 2 - N/A Glidewell Dental 791 5 0.98% 1,098 3 1.32% Tower Semiconductor 790 6 0.98% 692 8 0.83% City of Newport Beach 765 7 0.95% 727 7 0.87% Newport-Mesa Unified School District 750 8 0.93% 909 5 1.09% Balboa Bay Club and Resort 729 9 0.90% 370 10 0.44% Resort at Pelican Hill 679 10 0.84% 927 4 1.11% Marriott Newport Coast Villas 449 11 0.55% N/A 2 - N/A CBRE Inc. 404 12 0.50% N/A 2 - N/A
1 2
Source: Data obtained from companies listed and compiled by City Finance Department.

Figures reflect number of employees of employer at the time the information was collected.

Company listed was unable to provide employee data for 2015.

CITY OF NEWPORT BEACH
Principal Employers1
Current Year and 9 years ago
2024 2015
243
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OPERATING INFORMATION

The following schedules present information on the City’s operations and resources including service and infrastructure data to facilitate the readers’ understanding of how financial statement information relates to the services the City provides and the activities it performs:
• Full Time City Employees by Functions
• Operating Indicators by Function
• Capital Asset Statistics by Function
• Water Sold by Customer Type
• Utility Rates
• Major Water Customers

Sources: Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports and underlying accounting records for the relevant years.

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246
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2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
General government 78 77 77 79 80 78 80 81 85 94 Public safety 370 374 371 372 375 375 376 376 377 385 Community development 52 52 52 53 53 53 52 53 56 59 Public works 109 104 99 98 96 99 98 98 102 104 Community services 75 79 81 79 78 78 78 78 79 80 Water 31 32 31 33 33 33 33 33 32 34 Wastewater 13 12 13 11 11 11 11 11 11 10 Total 728 730 724 725 726 727 728 730 741 766 Sour
ce: City Finance Department
Function
Fiscal Year

CITY OF NEWPORT BEACH
Full-time City Employees by Function
Last Ten Fiscal Years
247
11-257
2015 2016 2017 2018
Police:
3,472 3,158 3,178 3,266
59,753 64,762 69,246 56,685
Fire:
305 300 247 248
1,281 1,201 1,216 1,307
General Services:
2,711 1,890 1,439 1,403
27,175 27,000 20,490 22,925
Recreation & Senior Services:
303,152 305,000 425,000 437,751
13,740 14,000 13,500 13,071
Water:
187 194 229 210

16.39 11.66 13.80 14.07
Sewer:
20 17 41 137
260 250 202 211
Library Services:
1,610,818 1,575,000 1,464,640 1,424,594
1 2
3 Source: City of Newport Beach

CITY OF NEWPORT BEACH
Operating Indicators by Function
Last Ten Fiscal Years
Data varies with trend due to COVID-19 restrictions being lifted in 2022.

Fire Inspections
Adult Arrests
Parking Citations Issued
Fire Responses
Fiscal Year
Data varies with trend due to inclusion of responses to fires, hazardous materials, medical and other emergencies.

Data varies with trend due to COVID-19 restrictions in 2021.

Street Patching (tons of mix)
Sidewalk Repair (square feet)
Co-Sponsored Youth Organization Attendance
Senior Transportation Services
New Connections
Average Daily Consumption (hundred cubic feet)
New Connections
Miles of Pipe Cleaned
Library Circulation of Materials
248
11-258
2019 2020 2021 2022 2023 2024
3,520 3,093 2,872 2,650 2,800 2,615 67,048 73,372 86,439 83,307 85,003 86,002 209 11,913 1 12,204 13,251 13,486 13,493 1,033 2,842 475 2 3,015 3 2,807 2,824 1,402 913 920 901 903 739 14,840 11,729 7,805 13,590 12,885 16,069 469,959 439,954 455,442 392,605 454,418 527,754 13,386 9,300 6,287 8,805 10,048 10,190 210 256 160 252 184 176

13.75 13.44 14.87 14.28 11.06 10.77 46 10 25 3 12 9 196 221 240 209 178 192 1,376,041 1,084,206 1,043,629 1,195,151 1,172,951 1,213,486

CITY OF NEWPORT BEACH
Operating Indicators by Function
Last Ten Fiscal Years
Fiscal Year
249
11-259
2015 2016 2017 2018
Police:

Stations 1 1 1 1
Fire:

Fire Stations 8 8 8 8
Lifeguard Headquarters 1 1 1 1
Public works:

Streets (miles) 395 399 400 400 Streetlights 5,977 5,978 5,978 5,978 Traffic Signals 808 808 808 808 Recreation & Senior Services:

Parks 64 64 64 64 Community Centers (includes leased property) 14 15 15 15 Aquatic Center 1 1 1 1 Water:

Water Mains (miles) 299.58 299.77 300.64 300.30 Maximum Daily Capacity (thousands of gallons) 27,800 27,800 27,800 27,800 Wastewater:

Sanitary Sewers (miles) 202.64 202.75 202.72 203.56 Storm Sewers (miles) 94.14 92.08 94.74 95.12 Library Services:

Libraries 4 4 4 4 Source: City of Newport Beach
Fiscal Year

CITY OF NEWPORT BEACH
Capital Asset Statistics by Function
Last Ten Fiscal Years
250
11-260
2019 2020 2021 2022 2023 2024
1 1 1 1 1 1
8 8 8 8 8 8
1 1 1 1 1 1
400 400 400 400 401 399 5,971 5,972 5,973 5,974 5,974 5,974 808 808 808 808 808 808 65 65 65 66 66 66 15 15 15 14 14 15 1 1 1 1 1 1 300.88 300.82 301.23 301.13 301.48 301.39 27,800 27,800 27,800 27,800 27,800 27,800 203.99 204.10 204.13 204.30 204.72 204.81

95.35 95.89 96.18 97.37 97.81 104.28 4 4 4 4 4 4 Fiscal Year

CITY OF NEWPORT BEACH
Capital Asset Statistics by Function
Last Ten Fiscal Years
251
11-261
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Type of Customer:

Residential 3,853,566 3,072,589 3,564,203 3,603,927 3,439,655 3,747,408 3,811,231 3,714,134 3,242,477 3,154,529 Commercial 2,560,620 1,847,372 2,142,952 2,201,254 2,075,812 2,081,860 2,231,809 2,078,199 1,728,975 1,698,963 Government 396,605 263,116 305,214 289,738 256,398 270,638 299,442 314,128 256,850 224,058 Total 6,810,791 5,183,077 6,012,369 6,094,919 5,771,865 6,099,906 6,342,482 6,106,461 5,228,302 5,077,550 Total direct rate
per 100 cubic ft. 3.08$ 3.08$ 3.08$ 3.08$ 3.08$ 3.11$ 1 3.35$ 2 3.60$ 3 3.87$ 4 4.16$ 5 1 Reflects increase in commodity rate effective January 1, 2020 2 Reflects increase in commodity rate effective January 1, 2021 3 Reflects increase in commodity rate effective January 1, 2022 4 Reflects increase in commodity rate effective January 1, 2023 5 Reflects increase in commodity rate effective January 1, 2024 Source: City Utilities Department
Fiscal Year

CITY OF NEWPORT BEACH
Water Sold by Type of Customer
Last Ten Fiscal Years
(in hundred cubic feet)
252
11-262
Fiscal Year
Ended
June 30
Monthly
Base Rate
Rate per
100 cubic ft
2015 21.77 3.43
2016 21.77 3.43
2017 21.77 3.43
2018 23.73 3.46
2019 24.34 3.50
2020 28.09 3.57
2021 30.25 3.85
2022 32.03 4.14
2023 33.77 4.41
2024 37.64 4.69
1 Source: City Revenue Division

CITY OF NEWPORT BEACH
Utility Rates1
Last Ten Fiscal Years
Rates are based on 5/8" or 3/4" meter,
which are the standard household meter
sizes. Rates include sewer service. The
City charges an excess-use rate above
normal demand.
253
11-263
Water Customer Water Charges Rank
Percent of Total
Water Revenues Water Charges Rank
Percent of Total
Water Revenues
Irvine Company Apartment 805,949$ 1 2.50% 532,674$ 1 1 1.95% Irvine Company Office 605,192 2 1.88% 474,979 1 1 1.74% Hoag Memorial Hospital 467,613 3 1.45% 302,746 4 1.11% Newport Beach Country Club 368,577 4 1.14% 325,207 3 1.19% Big Canyon Country Club 344,111 5 1.07% 295,721 2 1.08% UDR Newport Beach 342,458 6 1.06% 251,069 8 0.92% Newport-Mesa Unified School District 316,461 7 0.98% 269,852 6 0.99% Irvine Company Retail 270,791 8 0.84% 174,528 10 0.64% Bluffs Homeowners Association 263,595 9 0.82% 273,137 7 1.00% Pacific View - Pierce Bros. 235,776 10 0.73% 187,880 9 0.69% Park Newport Ltd 195,097 11 0.61% 284,543 5 1.04% Newport Dunes Resort 175,223 12 0.54% 122,840 16 0.45% Villa Balboa Community Association 137,137 13 0.43% 132,508 18 0.42% De Anza Corp 133,394 14 0.41% 89,228 22 0.33% 690 Hotel LLC 127,832 15 0.40% N/A 2 - N/A
4,789,205$ 14.87% 3,716,911$ 13.57%
1 2
Source: City Revenue Division

CITY OF NEWPORT BEACH
Major Water Customers
Current Year and Nine Years Ago
2024 2015
Company listed operated under The Irvine Company in 2015.

Company listed was established in 2021 therefore, no 2015 information was available. 254
11-264

11-265
City of Newport Beach
100 Civic Center Drive
Newport Beach, CA 92660
(949) 644-3123
www.newportbeachca.gov/acfr
11-266

Newport Beach City CouncilFebruary 11, 2025

Newport Beach City Council
February 11, 2025