IRVINE, Calif. (January 28, 2020): The City of Irvine in 2019, for a third straight year, has been ranked No. 1 in fiscal strength. 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 City of Irvine is proud to receive this distinction for the third consecutive year,” said Irvine Mayor Christina Shea. “This ranking confirms the City Council and City staff remain committed to ensuring resident tax dollars are being wisely managed. Maintaining a balanced budget, with the highest level of transparency, is essential to this City Council.”
Besides the responsible fiscal management that determined the No. 1 distinction, Irvine is one of only 12 cities with a surplus score.
“Cities with a Taxpayer Surplus have demonstrated political leadership that values honesty, sustainability, and financial responsibility,” said TIA founder and CEO Sheila Weinberg. “We need more city and state governments to use good accounting practices to truly balance their budgets.”
Truth in Accounting, a think tank that analyzes government financial reporting drew their data from fiscal year 2018 audited Comprehensive Annual Financial Reports. The full Financial State of the Cities report can be found online here.