On November 5th, the California Policy Center (CPC) compiled a list of “California’s Most Financially Stressed Cities and Counties” labeling them the “unlucky 13”. The City of Compton was ranked #1. The sites disclaimer states the figures were through fiscal year ending 6/30/2013. If they couldn’t find thruogh 2013, then 2012 numbers were used. They went on further to state, their rankings could change. Here is Compton’s response.[adsenseyu2]
This also forced the city to create a page on the city’s website called 2014 Fiscal Condition of the City of Compton. It would be even more helpful if the City Treasurer published a regular record of Compton’s investment portfolio so we can all see how they are going to repay back this $40million they owe.
Establishment of Pension Fund Checking Account
Cash on Hand (Liquidity)
- Treasurer Weekly report November 2012
- Treasurer Weekly report April 2013
- Treasurer Weekly report May 2013
- Treasurer Weekly report November 2014
Tax Revenue Anticipation notes (TRANS)
Council Report Establishing Budget Reserve Policy
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This “fancy, financial finagling” is one of the few things I gave Mr. Duffey credit for. That report did use older statistics. While the City is still under water, it doesn’t appear to be drowning as long as the bills are getting paid.