October 11, 2022 – The California State Auditor’s Office has released updated data for its High-Risk Local Government Agency Audit Program’s Interactive Dashboard. The Interactive Dashboard ranks cities based on detailed information about their fiscal health. The rankings are a part of the State Auditor’s Office’s process for determining whether a city is at risk of fiscal distress.
The recently released data covers the fiscal year from July 1, 2020 through June 30, 2021. The City of Laguna Woods is proud to rank as the 19th lowest risk city in the State of California (of 431 cities assessed) with an overall score of 95.44 out of 100 points possible. In addition to ranking in the top 5% of cities statewide, the City of Laguna Woods also ranks as the second lowest risk city in the Los Angeles Region (of 130 cities assessed) and the second lowest risk city in Orange County (of 34 cities).
In developing the Interactive Dashboard, the State Auditor’s Office considers 10 financial indicators that are intended “to assess each city’s ability to pay its bills in both the short and long term.” The indicators are general fund reserves, debt burden, liquidity, revenue trends, pension obligations, pension funding, pension costs, future pension costs, other post-employment benefits (OPEB) obligations, and OPEB funding.
For more information on the Dashboard, please visit www.auditor.ca.gov.