City staff projects $12 million revenue uptick, outlines $344 million preliminary operating budget City staff told the Newport Beach City Council on Jan. 31 that revenues for the coming fiscal year are projected to be $12,000,000 (3.5%) higher, driven largely by property-tax growth, while preliminary operating expenditures are expected to rise about $8,000,000. Staff presented a $344,000,000 starting operating budget and a multi-year pension payoff plan.

Newport Beach’s finance team anticipates a $12 million revenue boost for the upcoming year, but with rising expenditure pressures, will the budget be enough to meet the city's needs?

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