The state of the Santa Clarita economy, appears to still be strong, especially Standard & Poor’s boosts the city’s issuer credit rating from AA- to AA. Citing the fact that Santa Clarita is primarily a wealthy residential community, that has a job market easily accessible to the broader Los Angeles Metorpolitan Statistical Area (MSA), Timmothy Barrett, of Standard & Poor’s believes Santa Clarita’s large, growing, property tax base, will continue to contribute to items such as the unreserved fund balance, which adds to the city’s financial sources for items such as capital improvements.
Santa Clarita spent $20.3 million on capital projects in 2006, which reduced the unreserved fund balance to $18.8 million. In addition, preliminary 2007 results are strong, indicating a potential $14.5 million increase to the unreserved fund balance.
Here is a link to the City of Santa Clarita 2007-2008 Budget.
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