Costa Mesa ends fiscal year with surplus

Costa Mesa's General Fund finished the previous fiscal year with at least a $7-million surplus, according to a news release.

The announcement, released late Tuesday night and mentioned during the City Council meeting, cited preliminary audited numbers for the 2012-13 fiscal year, which ended in June. Officials credited the amount to having "higher-than-expected revenues and disciplined spending."

"We are proud to deliver this significant surplus," said city CEO Tom Hatch in a prepared statement. "Everyone here has worked extremely hard to be good stewards of our taxpayers' dollars."

The final audited numbers will be available in November in the Comprehensive Annual Financial Report, officials said.

The recent surplus, when combined with surpluses from fiscal years 2010 through 2012, adds up to $13.3 million, city officials said.

—Bradley Zint

Twitter: @bradleyzint

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