Question 1

Where does municipal finance data come from?

Accepted Answer

Municipal finance data comes from the California State Controller's Office ByTheNumbers portal, compiled from annual financial transactions reports filed by every California city. These reports detail revenue, expenditures, fund balances, and long-term debt and are public record.

Question 2

What are the main revenue sources for a municipality?

Accepted Answer

Most California municipalities rely on property taxes (capped under Prop 13), sales taxes (Bradley-Burns 1% + local add-ons), utility user taxes, transient occupancy (hotel) taxes, business license fees, charges for services, and intergovernmental transfers. The mix varies widely between coastal cities, inland suburbs, and rural towns.

Question 3

What is a General Fund and why does it matter?

Accepted Answer

The General Fund is the municipality's primary operating fund. It covers core services like police, fire, public works, and administration. A healthy General Fund balance (typically 25-50% of annual expenditures) indicates the town can handle unexpected expenses without raising taxes or cutting services.

Question 4

How current is this financial data?

Accepted Answer

California State Controller data typically lags 12-18 months behind the current fiscal year (which ends June 30). The most recent year with complete data is usually one to two fiscal years prior.

Lake Forest, CA

Finances — FY 2024