From FY2017-18 through FY2020-21, City revenues declined slightly while expenditures grew at a moderate annual average rate (3-5%), above historic long-term inflation (3%). However over the past three years since FY2018-19 revenues have grown at a low average rate.
During that period, reserves declined but still maintained a high level.
The California Auditor ranked the City’s financial risk as 299 out of 423 (1 is riskiest) in FY2019-20.
The City’s FY2022-23 budget projects revenues exceeding expenditures and increasing the City’s ending General fund balance.