Los Angeles County’s Cities Staying Financially Stable, With a Few Exceptions

Commentary The city of Compton wins the laggard award for Los Angeles County’s 88 cities in releasing its June 30, 2021, annual comprehensive financial report (ACFR). It was completed by its auditing firm on May 8 and presented to its city council on June 4 of this year. The customary completion date by the outside independent auditors is Dec. 31 of the same year. Of the county’s 88 cities, 38 were able to meet this 2021 target. All but two of the remaining cities released their ACFRs in 2022. The city of Huntington Park provided theirs in 2023 (see “How Alleged Corruption Can Stun a City,” December 8, 2023). Compton’s release in the year 2024 makes it more than two years late. The leadership of this city should be thankful there are no penalties for being delinquent. It’s too bad taxpayers aren’t given similar signs of grace. Real estate tax deadlines are immovable and being even a day late will cost a homeowner 10 percent of the installment due. Take this as a reminder to pay this one of many taxes no later than April 10 and Dec. 10....