City to pursue ways to keep finances secure

Stacy Brown

NEWPORT BEACH -- At the urging of Councilwoman Norma Glover, city

officials will begin looking for ways to keep the city secure through

possible economic hard times.

Glover, who began a vacation Tuesday, told the council Monday that it

would make sense to start now on a plan to give the city proper economic

direction for the future.

“I want a five-to-10-year plan identifying revenues, projected

revenues and how to increase our revenue stream,” Glover said, adding

that she want to see the “bones of the plan” and have it put on the

agenda at a future council meeting.

City Manager Homer Bludau said that while he was surprised by Glover’s

request, it is a good idea.

“I know (Glover) is concerned about the long-term financial stability

of this city,” Bludau said. “She wants to look at what kind of cash flow

we have, which requires us to brainstorm and do some strategic planning.”

Mayor Dennis O’Neil said he spoke with Glover before Monday’s council

meeting about her proposal. He added that he already thought about

several ways to secure the city’s finances, including pursuing additional

funding from the Newport Dunes Resort, car dealerships and retail

outlets.

“I think what she’s talking about is a prudent thing to do,’ O’Neil

said. “Historically, there have been different swings in the economy and

right now, these are good times. However, three or four years ago, we

were in the midst of a long drawn-out recession.”

The mayor said it would be wise to assume that another recession is

not far off.

Council members said they have been happy with how finances have been

managed recently, and they want to make sure that continues.

“Our sworn duty is to perform high levels of municipal service to the

community,” O’Neil said.

He cautioned, however, that while municipal revenue producers such as

hotels, dealerships and retail outlets are good sources of funds,

sacrificing the quality of life would not be tolerated.

“We don’t want to fill the city with building,” O’Neil said. “We could

approve a project, annexation, etc., that guarantees sources of income,

but if we continue to encroach on building ... we will defeat the purpose

of what we want to accomplish.”