City of Laguna Beach

Overview

• From FY2017-18 through FY2020-21, General Fund revenues grew at a moderate annual average rate (3-6%), above historic long-term inflation (3%). 
• During that period, expenditures grew at a low annual average rate (0-3%), below revenue growth and below historic long-term inflation (3%).
• The California Auditor ranked the City’s financial risk as 298 out of 423 (1 is riskiest) in FY2019-20.
• The City’s FY2022-23 budget shows revenues projected to exceed pre-pandemic estimates, but states that the revenue growth potentially will be offset by high inflation.