Laserfiche WebLink
Ana,,, <br />Earned <br />Health <br />Financial State of Beata Ana <br />i <br />After the Covid-pandemic, in part due to iederal government stimulus money, Santa Ana's financial <br />condition appeared to improve.. Despite apparent improvements, 'Santa Aria had a Taxpayer Burden'- of <br />$5,600, earning it a'D" grade from Truth in Accounting. <br />Santa Ana's financial problems stem mostly from unfunded retirement obligations that have accumulated <br />over the years. Unfortunately, the amounts of unfunded pension and retiree health care benefits used <br />by 5anta Ana end in this report were the same as 2020, because newer data could not be found. The <br />outdated numbers used do not reffiec:r the unusual market gains experienced 15y t ALPers in 2021. In <br />2022, the city had set aside only fib cents for every dollar of promised pension benefits and had no <br />money set aside for promised retiree health care benefits, <br />Santa Ana's elected officials have repeatedly made financial visions that left the city with a debt <br />burden of $565,7 million. That burden came to $5,600 for every city taxpayer, ITT 2022, markets <br />prcxiucerl negative market returns and federal CO ID relief waned. These conditions may increase the <br />per taxpayer Tax Ourden. Santa Ana could struggle to maintain current levels of government services and <br />benefits without further negative impact on its financial health. <br />The data included in this report is derived from Santa Ana's 2021 audited Annual Comprehensive <br />Financial Report and retirement plans' reports. To compare prior years and other cities' financial, <br />demographic, and economic information, gar to Data-Z.org. <br />Daniels College of Business <br />UNIVERSITYO' DENVER <br />School of Accountancy <br />10 <br />