Several Inland Empire Cities Make Big Moves in 2020 Financial Rankings

Commentary Using a simple metric, only six Inland Empire cities in California saw much movement in the fiscal rankings of its 52 cities for the year ending June 30, 2020 compared to the previous year (see “Every City in the Inland Empire Ranked According to Financial Health,” June 30, 2023). The majority stayed pretty much in place, but half moved up more than five places and the other half moved down by more than nine places. The pandemic lockdown started in the last quarter of the 2019-2020 fiscal year, so what kept the majority rather steady and the rest either improving dramatically or in decline? Let’s start from the beginning. Every city in the state issues an annual comprehensive financial report (also now known by its acronym, ACFR), at least eventually (see “2 California Cities Still Late on Preparing Their Financial Audits for 2019,” December 21, 2023)....