How to spend Costa Mesa’s budget, surplus: Special meeting Tuesday

The Costa Mesa City Council will discuss budget matters in a special study session Tuesday.

The city will discuss what to do with the 2013-14 budget surpus of $1.3 million and about $5 million the City Council approved during the budget process that will come from the city’s $20 million unassigned fund balance typically used to provide cash flow or as reserve funds for non-emergencies.

City staff has recommended putting $2 million into reserves and an additional $4 million into unspecified capital improvement projects.

For the current fiscal year, city officials are reporting general fund revenue of $36.6 million as of Dec. 31, a 4.8% increase over what was budgeted in the nearly $140 million spending plan.

Increased revenue is coming from property and sales taxes, as well as permit fees. Revenue is lower than expected from parking tickets and the city’s golf course.

Tuesday’s meeting begins at 5 p.m. in City Hall’s Conference Room 1A, 77 Fair Drive.

—Bradley Zint

Twitter: @bradleyzint

[For the record, 6 p.m. Feb. 10: In an earlier version of this post, it was stated that the city will discuss what to do with the roughly $6-million budget surplus from the 2013-14 fiscal year. It should have said, the roughly $4.55-million budget surplus and $1.8-million from a positive budget variance will be discussed.]

[For the record, 6:40 p.m. Feb. 13: An earlier version of this post stated that the city will discuss what to do with the roughly $6 million budget surplus from the 2013-14 fiscal year. It should have stated that the city’s 2013-14 budget surplus, after deducting money set aside for approved purchases, is about $1.3 million, according to a study session report released Jan. 29. The city will discuss how to spend that money, plus about $5 million it approved during the 2013-14 budget process that will come from the city’s $20 million unassigned fund balance typically used to provide cash flow or as reserve funds for non-emergencies.]