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Santa Ana, CA Earned 'W Grade for Fiscal Health m I t he Truth e ■ Money Needed to Ny Bills$565.7 ruillion Twxpayer Burden fFinancial Grade Ronking I out of Financial State of Santa Ana After the Covid-pandemic, in par due to iederal government stimulus money, Santa Ana's financial condition appeared to improve.. Despite apparent improvements, 'Santa Aria had a Taxpayer Burr#en1h, of $5,600, earning it a`D" grade from Truth in Accounting. Santa Ana's financial problems stem mostly from unfunded retirement obligations that have accumulated over the years, Unfortunately, the amounts of unfunded pension and retiree health care benefits used by 5anta Ana end in this report were the same as 2020, because newer data could not be found.The outdated numbers used do not reffiecr the unusual market gains experienced 15y t ALPers in 2021. In 2022, the city had set aside only fib cents for every dollar of promised pension benefits and had no money set aside for promised retiree health care benefits, Santa Ana's elected officials have repeatedly made financial visions that left tfie city with a debt burden of$565,7 million.That burden came to $5,600 for every city taxpayer, ITT 2022, markets produced negative market returns and federal CO ID relief waned.These conditions may increase the per taxpayer Tax Ourden. Santa Ana could struggle to maintain current levels of government services and benefits without further negative impact on its financial health. 11111111111110 The data included in this report is derived from Santa Ana's 2021 audited Annual Comprehensive Financial Report and retirement plans' reports.To compare prior years and other cities' financial, demographic,and economic information, gar to Data-Z.org. Daniels College of Business L' IIVERSIT-YO: DENVER www.daia-z.org School of Accountancy 8