PALMDALE – The most recent comprehensive financial analysis by the California State Auditor (CSA) revealed that the city of Palmdale has one of the lowest risks of fiscal distress in California, officials announced Wednesday.
Of the 453 cities that were analyzed, Palmdale came in at the 410th lowest risk, putting it in the top 10 percent of California cities.
As part of the CSA’s high-risk local government audit program, the Auditor has established a process for determining whether a local government agency is at risk of fiscal distress. The CSA made its findings public on a dashboard that ranks the fiscal health of 453 California cities from highest to lowest risk, using ten key financial indicators. The dashboard is available at https://www.auditor.ca.gov/local_high_risk/dashboard-csa.
A statement by California State Auditor Elaine M. Howle, CPA on their website reads, “We recognize that the citizens and the government rely on us to ensure the effective and efficient administration and management of public funds and programs. It is our job to help make sure that California government stays one step ahead. As the State’s independent external auditor, we provide nonpartisan, accurate, and timely assessments of California government’s financial and operational activities in compliance with generally accepted government auditing standards.”
“Being fiscally sound is something our Council has made as a top priority for Palmdale,” said Palmdale Mayor Steve Hofbauer. “Being ranked in the top 10 percent of fiscally strong cities in the state sends a great message to existing and potential new business who are looking to grow or relocate to Palmdale.”
“Thanks to the prudent leadership of our City Council and the commitment they and our staff have to our residents and taxpayers, we are continuing to bring an outstanding level of services and program to our community even in these challenging times,” said Palmdale City Manager J.J. Murphy. “We will continue to work as good stewards of the public’s money, especially in light of the trust placed in us with the passage of Measure AV. Our commitment to you is that we will continue to be fiscally prudent and transparent in order to deliver the best to our residents, businesses, and visitors.”
For more information, visit https://www.auditor.ca.gov/local_high_risk/dashboard-csa
[Information via news release from the city of Palmdale.]