Cypress Recognized as Top Orange County City
At its meeting on April 23, 2018, the Cypress City Council was presented with a certificate of recognition from California State Senator John Moorlach’s office for ranking as the top Orange County city in the Senator’s recent report that tracks the per capita unrestricted net position of all 482 California cities. Cypress ranked 33 out of all California cities according to the report findings.
“Cypress has long had a well-earned reputation for solid financial management. The City has built prudent financial reserves to protect our community in case of disaster and to allow us to maintain our infrastructure at a level most cities can only dream of. I am very proud that Cypress ranked first in Orange County and 33 out of all 482 California cities. My City Council colleagues and I continue to implement policies and strategies to ensure the City’s fiscal health and stability well into the future,” said Mayor Jon Peat.
Senator Moorlach’s rankings are based on cities’ Comprehensive Annual Financial Reports (CAFRs). The study specifically looks at the basic financial statements and statement of net position data in the CAFRs. Senator Moorlach’s study identifies the unrestricted net position (UNP) figure as a key to evaluating city finances. For each California city, Senator Moorlach took their UNP figure and divided that number by the city’s population to generate a metric that shows how much a resident is individually affected by city finances. The study indicates that a positive number is a strong indication that the City’s finances are in good health, however a negative number could be a warning sign of a critical fiscal condition. Just 19 of Orange County’s 34 cities run positive per capita UNPs. Cypress’s ranks first with a per capita UNP of $1,805. A copy of the full report is available on Senator Moorlach’s website.
For more information, please visit https://district37.cssrc.us/ or contact John Seiler at (714) 662-6050.