I REPORT YOU DECIDE-by Barry Levinson
California Policy Center working with Civic Partner, a firm that collects and analyzes municipal finance data, has ranked over 490 California cities and counties with respect to their bankruptcy risk.
That report contains the complete list. To compile the ranking, they collected and analyzed audited financial statements published by most cities and counties in California. Local governments typically produce audited financial statements if they issue municipal bonds or if they receive more than $500,000 in federal grants annually.
Cities and counties with default probability scores much higher than 0.1% have substantially elevated risk. Where does the City of Fullerton rank among the 492 cities and counties listed in this comprehensive study?
FULLERTON RANKS FIRST!
Winner winner chicken dinner.
It ranks first (i.e. highest probability of Default/Bankruptcy) among all cities in Orange County with a risk factor of .27%.
So the next time a city official tells you that Fullerton is in good financial shape, please remember this study.
http://californiapolicycenter.org/californias-most-financi…/
Pack it tight Mr Internal affairs and just maybe the south Fullerton soccer leagues can be soaked.
Barry Levinson
#1 by Joe Imbriano on November 9, 2014 - 7:48 pm
Yeah, maybe that is why they are setting up the framework to turn the entire city of Fullerton into a special assessment district with the not so new HERO program. Yes, it is one heck of a green Trojan Horse folks but it is just what the doctor ordered.
The 4 F mafia-(Fitzgerald, Flory and Chaffee) wanted to green light the developer variance orgy handing the keys over to Felz and his million dollar dream team from the redevelopment bygone era with the rotten to the Core Corridor program. Can you hear the flushing?
The 4 F mafia-(Fitzgerald, Flory, and Chaffee) also gave us the phony COIN ordinance that knocked the teeth out of the already denture wearing taxpayers. Can you hear the power flushing?
The 4 F mafia-(Fitzgerald, Flory and Chaffee) is gonna do whatever they can to get their clutches into everyone’s wallets so the money can keep flowing out of Fullerton’s general fund to cover the city’s million dollar retention limit to pick up the tab of the deranged cops that like to have their way with the hotties, snuff out the homeless, frame up camera men, and try to railroad a family man like Barry.
The 4 F mafia – (Fitzgerald, Flory and Chaffee- ladies first Doug)has gotta find a way to cover the hundreds of millions and millions and millions of dollars in unfunded pension liabilities and health care costs for the people that have trained our men in black to crack heads and those that enjoy doing just that as well as those who orchestrated the abandoning of our infrastructure in exchange for leaving our finances a joke for the golden parachutes that a judge will soon cut the cords on.
Meanwhile, we spend a million dollars a mile to lay plastic water mains and repave the streets with the biggest bunch of hack job pig sty contractors I have ever seen in my life. My street was one of the first and boy what a photo album I have.