Just one day after Mayor Robert Garcia updated the city on the state of Long Beach, a picture of how the state of the city’s finances was revealed in a report from Truth in Accounting (TIA). The report put out by the non-profit group Wednesday lists Long Beach as one of just seven cities nationally that has a surplus leftover after its bills are paid.
The group’s figures are based off the 2015 fiscal year and show that after paying all bills—state bonds, liabilities, unfunded pension and retiree healthcare benefits—Long Beach would be left with a surplus of $600 per taxpayer. The city was joined by Fresno as the only other city west of Texas shown to carry a surplus in the report’s findings in a review of the 50 most populated cities in the United States.
This is the second year the group has compiled this city-centric report. Long Beach was not included in last year’s list which only included the 20 most populous cities.
