Commentary
Out of Orange County’s 34 cities in Southern California, the six strongest in terms of fiscal health maintained their positions in the annual rankings for the fiscal year ending June 30, 2023. However, the remaining 28 cities had some interesting shifts.
Overall, it was a positive year, with only one out of five cities experiencing a decline in their financial situation, while nearly four out of five improved.
The cities are ranked based on their unrestricted net position divided by the population, as reported in their annual comprehensive financial reports (ACFRs). A positive balance sheet is shown in black, while a negative one is in red.
Irvine’s slight decrease in unrestricted net position did not impact its standing. Laguna Woods saw a decline, causing it to drop two positions, while Laguna Hills and Aliso Viejo moved up one spot each.
Buena Park and Placentia experienced deficits, leading to drops in their rankings. La Habra, Orange, and Santa Ana also faced challenges in their financial health.
Hopefully, it is imperative for all state and local governments to prioritize the annual reporting requirement, as it plays a crucial role in ensuring transparency for their residents.
Opinions expressed in this article are solely those of the author and do not necessarily represent the views of The Epoch Times.
