What's Happening?
The city of Calexico has been removed from the California State Auditor's high-risk designation, marking a significant financial turnaround. For nearly a decade, Calexico was considered high-risk due to chronic
deficits and poor financial management. However, the latest audit report indicates that the city has taken satisfactory corrective actions, maintaining positive general fund balances and rebuilding reserves. The city has implemented fiscal reforms, including a General Fund Reserve Policy and quarterly financial reporting, which have contributed to its improved financial health.
Why It's Important?
Calexico's removal from the high-risk list is a major milestone, signaling a new era of financial stability and growth potential. This achievement enhances the city's reputation, making it more attractive to investors and enabling it to pursue larger infrastructure and economic development projects. The financial reforms have also strengthened trust with residents and external agencies, positioning Calexico for sustainable growth. The city's success story serves as a model for other municipalities facing similar financial challenges, demonstrating the importance of fiscal discipline and transparent governance.
What's Next?
With its improved financial standing, Calexico is poised to attract new investments and strengthen relationships with state and federal agencies. The city plans to continue its focus on transparency and community engagement, offering bilingual access to financial information and developing comprehensive grant management policies. Future initiatives include formalizing a staff succession plan and expanding cross-training to ensure leadership continuity. These efforts aim to sustain the progress made and support Calexico's long-term development goals.
