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.
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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