One of the things that always makes me proud is being able to deliver an on-time, balanced and fiscally conservative budget to the City Council every year. This has been a commitment of our organization since day one of Cityhood, and it has paid off. Being fiscally sound is essential to creating a better, stronger and thriving City for current and future residents.
June 30 marks the end of our fiscal year (FY), and July 1 marks when the new FY 2022/23 budget goes into effect. The massive work effort that is the annual budget is comprised of a variety of funding sources and funds everything from our public safety contract, capital improvement projects, special events and street repairs to transit services, our Santa Clarita Public Library, sidewalk repairs and community services.
Santa Clarita has always followed a conservative approach to budgeting. This way, we are able to control and deliver on our goals and be prepared for things out of our control, creating a path for stability and success. This is one reason we have a 100 percent track record for a balanced and on-time budget with an impressive 20 percent reserve fund. The City also maintains a AAA credit rating from Standard and Poors.
Last year the city of Santa Clarita was ranked in the top seven percent of fiscally healthy cities by the California State Auditor. The findings compare the fiscal health of over 420 cities based on 10 financial indicators, and Santa Clarita received a low-risk designation. You can find out more about the City’s budget, view past and present budgets and take a deep dive into the numbers by visiting our website at santa-clarita.com/budget.