GFOA

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Irvine Again Ranked No. 1 City in Fiscal Strength!

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.

You can read the report on Irvine here and read the full report here.

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.

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Irvine Releases Proposed 2019-2021 Budget. Tell Us What You Think!

The City of Irvine has released a proposed budget for FY 2019-2021.

Tell us what you think!

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 accountable, and doesn’t spend more than it can afford.

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.

I am proud to have received the Orange County Taxpayers Watchdog Award from Orange County Auditor-Controller Eric H. Woollery, along with Mayor Don Wagner and Councilmember Christina Shea.

I am proud that during my tenure on the Irvine City Council, Irvine has received numerous awards for fiscal responsibility and transparency. These awards reflect the commitment that I and my colleagues on the Irvine City Council have made to the taxpayers and residents of Irvine, and to the principles of government transparency and fiscal responsibility.

I am also proud that during my term in office, Irvine has adopted the Irvine Sunshine Ordinance that expands public notice to four times longer than California law requires, and has approved a two-year budget cycle, along with a five-year financial planning program. These changes make planning more transparent, give residents more opportunity for input into budget and planning, and make city government more accountable.

The City of Irvine has now released its proposed budget for Fiscal Year 2019-2021.

Prior to proposing a budget for FY 2019-2021, the City hosted four Community Budget Meetings in March. These meetings were the City’s first-ever attempt at both informing constituents about the state of its finances and seeking input on spending priorities before the budget proposal was finalized.

Strategic priorities addressed in the proposed budget include: maintaining high-quality essential City services, enhancing Citywide mobility through transportation improvements, promoting innovation through effective use of Information Technology solutions, and recruiting and retaining high-quality employees.

Next in the process, the budget will be presented to the Finance Commission in April 2019.  These meetings are open to the public and your continued input in the form of public comment is welcome.

My appointee to the Finance Commission is Roger Sievers. Roger is a long-time corporate CFO/VP/Controller with a master’s degree in finance from Stanford University who cares deeply about ensuring both Irvine’s financial health and our quality of life.  He would love to hear from you about the proposed FY 2019-2012 budget. He can be reached at rsievers@cityofirvine.org.

Following Finance Commission input, the proposed two-year budget and five-year plan will be presented to the City Council for approval in May.

For more information about the budget process, and to access the Fiscal Year 2019-21 Proposed Budget, visit cityofirvine.org/budget.

You can also contact the City of Irvine’s Financial Management & Strategic Planning Department at 949-724-6255.

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Irvine Ranked No. 1 City in Fiscal Strength!

I am proud to report that the City of Irvine has 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.”

According to TIA, “it is imperative to provide an honest accounting of each city’s financial condition. Therefore, we developed a sophisticated model to analyze all the assets and liabilities of the nation’s 75 most populous cities, including unreported liabilities.”

Based on their thorough ans nonpartisan analysis, Truth in Accounting ranked Irvine as the most fiscally healthy large city in the United States.

You can read the Truth in Accounting report, “The Fiscal States of the Cities,” here. 

The Truth in Accounting report comes at a crucial time as the City of Irvine begins to apply several increases in fiscal responsibility and government transparency that I strongly urged and supported — a two-year budget in the context of a comprehensive five-year financial plan and an Irvine Sunshine Ordinance that expands review time of all regular agenda items to 12 days.

Recently, in addition to the No. 1 ranking from Truth in Accounting, the City of Irvine has been awarded national and state awards this year for its budget team: The Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States and Canada represents the highest form of recognition in government budgeting for a municipal entity, and the Excellence Award for Fiscal Year 2018-19 Operating Budget was presented to Irvine by the California Society of Municipal Finance Officers.

Irvine is used to winning awards for fiscal responsibility and transparency. We were also ranked No. 1 by Truth in Accounting in 2018.

Also last year, the City of Irvine received the Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report from the Government Finance Officers Association , as well as two other prestigious awards: The GFOA Distinguished Budget Presentation Award representing the City’s commitment in meeting the highest principles of governmental budgeting, and the California Society of Municipal Finance Officers Award for Excellence in Operational Budget.

In addition, I received the Orange County Taxpayers Watchdog Award from Orange County Auditor-Controller Eric H. Woollery in 2017, along with Mayor Don Wagner and Councilmember Christina Shea.

I am extremely proud of these awards. But much more important to me is the fact that our City is truly serving its residents with fiscal responsibility and 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.

These awards reflect the commitment that I’ve made to the taxpayers and residents of Irvine, and to the principles of government transparency and fiscal responsibility.

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.

 

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City of Irvine Wins National Awards for Budgeting and Fiscal Transparency!

I am proud to announce that the City of Irvine has been awarded the Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States and Canada (GFOA).

The award is the highest form of recognition in government budgeting for a city.

It is a significant achievement by the City of the Irvine. The award reflects the commitment of the Irvine City Council, our City Manager, and City staff to meeting the highest principles of governmental budgeting.

In order to receive the budget award, the City had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity’s budget serves as: a policy document, a financial plan, an operations guide, and a communications device. Budget documents must be rated “proficient” in all four categories, and the 14 mandatory criteria within those categories, to receive the award.

In addition, the City received the Excellence Award for Fiscal Year 2018-19 Operating Budget from the California Society of Municipal Finance Officers.

There are more than 1,600 participants in the Budget Awards Program. The most recent Budget Award recipients, along with their corresponding budget documents, are posted quarterly on GFOA’s website. Award recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America.

These awards come at a crucial time as the City of Irvine begins to apply several increases in fiscal responsibility and government transparency that I strongly urged and supported — a two-year budget in the context of a comprehensive five-year financial plan and an Irvine Sunshine Ordinance that expands review time of all regular agenda items to 12 days.

Last year, the City of Irvine received the Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report from the Government Finance Officers Association , as well as two other prestigious awards: The GFOA Distinguished Budget Presentation Award representing the City’s commitment in meeting the highest principles of governmental budgeting, and the California Society of Municipal Finance Officers Award for Excellence in Operational Budget.

I also received the Orange County Taxpayers Watchdog Award from Orange County Auditor-Controller Eric H. Woollery, along with Mayor Don Wagner and Councilmember Christina Shea.

As a member of the Irvine City Council, I am extremely proud of these awards. But much more important to me is the fact that our City is truly serving its residents with fiscal responsibility and 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.

These awards reflect the commitment that I and my colleagues on the Irvine City Council, as well as our Finance Commissioners and our professional City staff, have made to the taxpayers and residents of Irvine, and to the principles of government transparency and fiscal responsibility.

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.

 

 

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City of Irvine Wins Awards in Financial Reporting, Budget Reporting and Operational Budget

Congratulations to the City of Irvine’s Administrative Services Department, which this week received the Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report (CAFR) from the Government Finance Officers Association (GFOA).

This is the nation’s highest form of recognition in the area of governmental accounting and financial reporting.

Irvine also received two other prestigious awards: The GFOA Distinguished Budget Presentation Award representing the City’s commitment in meeting the highest principles of governmental budgeting, and the California Society of Municipal Finance Officers Award for Excellence in Operational Budget.

In January, Irvine was rated the #1 city in the nation in regard to fiscal health, according to a recent report by Truth in Accounting, an organization that promotes clarity in public financial records.

I’m extremely proud of Irvine’s number one financial rating in the nation and its national recognition for its financial reporting by the Government Finance Officers Association.

I am also proud to have received the Orange County Taxpayers Watchdog Award for “demonstrating dedication to the protection of taxpayer funds and for the advocacy of government transparency and fiscal responsibility.”

I ran for City Council on a platform of using my skills as a business attorney to safeguard every public dollar, and I intend to keep that promise by making sure that Irvine is financially transparent and doesn’t spend more than it can afford.

These awards reflect the firm commitment that my colleagues on the Irvine City Council, our Finance Commission, our professional City staff, and I have to the taxpayers and residents of Irvine, and to the principles of government transparency and fiscal responsibility.