Huntington Beach

Surf City’s finances are water-tight

HUNTINGTON BEACH is honored for its financial stability by Fiscal Times.

HUNTINGTON BEACH is honored for its financial stability by Fiscal Times.

In addition to its miles of beaches and expanses of parks, “Surf City” is becoming famous for something else: the way it handles its money.

The City of Huntington Beach was named in the Top 10 of Fiscal Times’ ranking of 116 cities in the “Best Fiscal Shape” – ranking fourth on the list.

HB color logo letters3The Fiscal Times released its own analysis of the cities in the best financial health this year. The Fiscal Health Index was compiled by looking at 116 U.S. cities with populations over 200,000 using 2015 financial data. The five main factors considered were ratio of a city’s general fund balance to expenditures; ratio of long-term obligations to total government-wide revenues; ratio of pension contributions to total revenues; changes in the local unemployment rate; and changes in property values.

“I am so proud of our City Council and our ongoing commitment to fiscal excellence,” said City Manager Fred A. Wilson. “We’ve come a long way since the last recession and this ranking proves to our community that we’ve been diligent over the years to put our taxpayers first – and it’s paying off. This ranking solidifies that we are on the right path towards fiscal sustainability in Huntington Beach.”

The last recession put enormous pressure on local budgets that led to significant cuts in public services. While some cities have fared well over the years, others continue to struggle. The top six cities were all in California. The top 10 large cities in the best fiscal health, according to the Fiscal Times:

  1. Irvine, California
  2. Fontana, California
  3. Moreno Valley, California
  4. Huntington Beach, California
  5. Santa Ana, California
  6. Glendale, California
  7. Boston, Massachusetts
  8. Fayetteville, North Carolina
  9. Washington, District of Columbia
  10. Boise, Idaho

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