Which California cities are in financial distress and which are sound? I am releasing the first edition of my new report, “Senator John Moorlach Ranks California’s 482 Cities for Financial Soundness.”
The report examines the audited finances of the state’s 482 cities. Specifically, it looks at each city’s Comprehensive Annual Financial Report, and the per-capita share for a city’s Unrestricted Net Position, or UNP.
A negative UNP shows a city has fiscal concerns that city officials should be aware of. If they are not aware of the problem, this is a useful tool for the city residents to hold their elected officials accountable.
Why the project?
Well, in the California Senate I carried some eight public employee pension reform measures in 2017 alone. And did the cities come to testify in support? No.
And, are they now highly concerned about their predicament? Yes.
I plan to update the study every six months.
An op-ed specifically looking at Orange County’s cities also is online in the Orange County Register, “Most Orange County city finances bleed red ink.”