City of La Palma

Overview

• From FY2017-18 through FY2020-21, City revenues grew at a moderate annual average rate (3-6%), above historic long-term inflation (3%). 
• During that period, annual average expenditures declined due to a significant one-time capital item and administrative cost reductions from FY2017-18 to the following year.
• Excluding FY2017-18, from FY2018-19 through FY2020-21 expenditures increased at a moderate annual average rate (3-6%), above historic inflation (3%) but less than revenue growth.
• The California Auditor ranked the City’s financial risk as 274 out of 423 (1 is riskiest) in FY2019-20.
• An increase to the City’s Transient Occupancy Tax rate on the November, 2022 ballot was approved.