I am proud to report that the City of Irvine has again — for the 3rd straight year — been ranked as the No. 1 City in the United States in Fiscal Strength by Truth in Accounting (TIA), a nonprofit organization that “cuts through politicization and accounting tricks, presenting transparent and nonpartisan figures of government finances.”
The Truth in Accounting ranking of America’s largest 75 cities calculated how a city would fare financially after all the bills are paid. Irvine was given a surplus score of $4,100 per taxpayer, earning the distinction as the most fiscally healthy large city in the United States.
The key findings of the report regarding Irvine were:
- Irvine’s Taxpayer Surplus is $4,100, and it received a “B” from TIA. A particular city’s Taxpayer Surplus/Burden is the money available (or needed, if a burden) to pay bills divided by the number of taxpayers.
- Irvine is a Sunshine City with enough assets to cover its debt. A Sunshine City is a city in state with a taxpayer surplus, which means that the state has enough funds and resources to pay its bills.
- Decisions by elected officials have created a Taxpayer Surplus, which is each taxpayer’s share of money available after city bills have been paid.
- Irvine has $626 million of assets available to pay bills.
- Irvine has $380.4 million available after bills have been paid, which breaks down to $4,100 per taxpayer.
We were also ranked No. 1 by Truth in Accounting in 2018 and 2017.
I am extremely proud of these awards, which reflect the strong commitment I’ve made to assuring Irvine’s fiscal health and stability, as well as the commitment of my City Council colleagues and City Staff.
Most important to me is the fact that our City is truly serving its residents with fiscal responsibility and financial transparency.
I ran for City Council on a platform of using my skills as a business attorney to safeguard every public dollar, and I have kept that promise by making sure that Irvine is financially transparent and doesn’t spend more than it can afford.
I have made it my mission to make our City’s budget truly transparent and free from any obfuscations or accounting tricks — and I am tremendously proud that Irvine has received this prestigious non-partisan award as America’s most fiscally healthy city in every year that I have served on the City Council.
Government transparency and fiscal responsibility should be neither a conservative nor a liberal idea, but appeal to both, as we strive to address increasing social needs with limited resources.