Overview
- From FY2017-18 through FY2020-21, revenues grew at a low annual average rate (0-3%), below historic long-term inflation (3%).
- During that period, expenditures grew at a moderate annual average rate (3-6%), above revenue growth and slightly above long-term inflation (3%).
- The California Auditor ranked the City’s financial risk as 166 out of 423 (1 is riskiest) in FY2019-20.
- The City’s FY2022-23 budget reports that in the fiscal year 2022-23 preliminary budget reflects a balanced General Fund budget, utilizing $1 million of Federal grant funds from the American Rescue Plan (ARP) and $994,000 from savings from current and projected future vacant positions.
Annual Change in Revenues
FY17-18 through FY20-21
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Annual Change in Expenditures
FY17-18 through FY20-21
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Reserves as % of Expenditures
FY2020-21
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