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City of Walnut Named One of the Most Financially Sound Cities in California

Walnut Ranked Fourth in the San Gabriel Valley

Post Date:11/05/2019

City of Walnut Named One of the Most Financially Sound Cities in California
Walnut Ranked Fourth in the San Gabriel Valley 

WALNUT, Calif. – The City of Walnut has been named one of the most financially sound cities in the State according to a new website launched by the State’s Auditors Office on October 24th. The report ranked 471 cities in the state with the ranking from high fiscal risk (i.e. 1st) to strongest financially ranked (471st). There were seven cities in the San Gabriel Valley and greater Whittier area that had a higher than 400 ranking, of those Walnut was ranked 416th.

“It’s great to see that the hard work of our City Staff was recognized by the State,” said City of Walnut Mayor Andrew Rodriguez, “We will continue making fiscally responsible decisions to make sure Walnut remains in good financial health.”

The ranking was based on cash position/liquidity; is the city able to pay its bills in the coming year, debt burden, financial reserves; does the city have sufficient financial reserves to cover unexpected cost, revenue trend; is the city’s revenue going down over time, and retirement obligations; does the city have the ability to pay for retirement benefits.

The online dashboard is part of the Auditor’s high-risk local government agency audit program to identify cities that could be facing fiscal challenges by assessing their levels of risk using various financial indicators. For a complete list of city rankings, visit https://www.auditor.ca.gov/bsa/cities_risk_index.

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