Desert Hot Springs News

Desert Hot Springs Ranked One of the Most Fiscally Healthy Cities in the State

Posted by City of Desert Hot Springs on Oct 27, 2019, 11:09:50 AM

Desert Hot Springs has been ranked one of the most fiscally healthy cities in the state of California, according to a new analysis by the California State Auditor.

 

The auditing tool, released on Thursday, ranked 471 California cities based on several key factors: whether a City can pay its bills, the City's debt, the City's reserves, if the City can pay retirement benefits, and more. Desert Hot Springs was ranked the 163rd healthiest City in the entire state.

 

Neighboring Palm Springs was ranked as one of the 50 most at-risk cities in the state, with several "high risk" financial factors. Meanwhile, Desert Hot Springs was labeled "low risk."

 

Of the nine Coachella Valley cities, Desert Hot Springs ranked fifth healthiest, behind Indian Wells, Rancho Mirage, Palm Desert, and La Quinta.

 

This news marks a period of tremendous growth in Desert Hot Springs's fiscal leadership.

 

It was announced last week that as of June 30, 2019, the City of Desert Hot Springs has an unaudited Consolidated General Fund balance of $11,101,160.00. This is an increase of over $2.1 million from the previous fiscal year.
 
The fund balance is inclusive of:
• Reserves
• Capital
• Operating Funds

That means that for the first time in the City's history, the City's Consolidated General Fund had a balance of $11,101,160.00 at the end of fiscal year 2018/2019.

This can be attributed to the strong fiscal leadership of our City Council. 
 
Stay tuned for more news on moving Desert Hot Springs forward.
 
 
 
 
 

Tags: Insider, city news