Town of Truckee Ranks in Top 30 at State Level for Fiscal Health
Town of Truckee in Top 30 for Fiscally Healthy Cities Statewide
A State Auditor’s analysis showed The Town of Truckee ranked in the top 30 fiscally healthy cities across the State of California.
The Town received a financially “low risk” designation, placing it in the top 7% of the 471 cities analyzed statewide. The Overall Risk dashboard can be found at the following link from the California State Auditor's Office.
The Town of Truckee earned perfect scores in the categories of Liquidity, General Fund Reserves, Pension Obligations, and OPEB Obligations, according to the analysis derived from publicly available financial data from the 2016-17 fiscal year. The Town has strong General Fund reserves policies that the Town can use to fund operations in the event of an emergency, and assets are easily accessible in times of need. The Town’s OPEB and Pension Obligations are not creating an unmanageable burden for the General Fund.
The State Auditor’s “Local Government High-Risk Dashboard”, provides a ranking of cities, from highest to lowest risk of financial distress, based on 10 financial indicators. Rankings are based on the number of points each city earns.
The Town of Truckee earned the ranking of 441 and was among 217 other cities with low-risk marks. Over 50% of the cities fell under “moderate” and 18 received “high-risk” designations.
The report ranked the Town of Truckee in the “moderate” category for revenue trends. This ranking means that the “general fund revenues are increasing modestly and may be sufficient to pay rising costs without reducing service levels.”
Kim Szczurek, Treasurer of the Town of Truckee stated, “Fiscal responsibility is extremely important to the Town. We pride ourselves on having a balanced budget, and strive to ensure that we operate in a fiscally responsible manner, and that we are good stewards of the tax payers’ money in order to foster a successful and vibrant community.”