The City’s finances are very well managed. We have a balanced budget, and a strong fiscal condition by state and federal standards. The strength of our local economy, our fiscal health, our history of fully meeting our financial obligations, and our commitment to conservative Budget and Fiscal Policies and sound financial management practices is reflected in our “AA” credit rating by Filch Ratings, a leading credit rating company.

National Recognition for Our Financial Management Practices

Our financial management practices have received national recognition as a model for other cities and local agencies to follow.

Financial Planning

Our two-year Financial Plan & Budget, and its approach to Multi-Year Budgeting and Integrating Goal-Setting into the Budget Process, has received the Distinguished Budget Presentation Award from the Government Finance Officers of Association of the United States and Canada (GFOA), with special recognition as a policy, financial plan and public communications document. We are one of very few cities in the nation to have received special recognition in these categories.

Our Financial Plan & Budget has also received awards for excellence from the California Society of Municipal Finance Officers (CSMFO) for an operating budget, a capital improvement plan, innovation and public communications. We are one of only a hand-full of cities statewide to have received awards in all four of these categories.

The National Advisory Council on State and Local Budgeting has also recognized the City’s financial planning and budgeting practices by including a number of illustrations from our Financial Plan in their recently issued Recommended Budget Practices.

Financial Reporting

Since 1986, each of the City’s Comprehensive Annual Financial Reports (CAFR) has received the GFOA’s coveted Award for Excellence in Financial Reporting. Additionally, this report has also received the CSMFO’s Award for Excellence in Financial Reporting.

The City’s commitment to full disclosure of its financial operations has also been recognized by the National Federation of Municipal Analysts.