Which California cities are in financial distress and which are sound? Today State Sen. John Moorlach releases the first edition of his 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?” Senator Moorlach asked. “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.”
Senator Moorlach plans to update the study every six months.
A copy of the study is available on Senator Moorlach’s website by clicking HERE.
If you would like to request an interview with Senator John Moorlach, please contact John Seiler at [email protected] or 714-662-6050.
About Senator John Moorlach (R-Costa Mesa):
State Senator John Moorlach represents the 37th district of California, is a trained Certified Financial Planner and is the only trained CPA in the California Senate. He gained national attention 23 years ago when he was appointed Orange County Treasurer-Tax Collector and helped the County recover from its bankruptcy filing – at the time the largest municipal bankruptcy in U.S. history. Follow him on Facebook & Twitter.
This article was released by the Office of Senator John Moorlach.
Editor’s Note: Of the 482 cities in California, Cypress ranks in at 33, and highest among the cities in Orange County. It is the only Orange County city in the top 50. La Palma is ranked 104, Stanton at 150, Seal Beach at 201, Buena Park at 302, Los Alamitos at 328, followed closely by Garden Grove at 330.