February 9th 2023: The City Of Costa Mesa has announced a $4.3 million surplus to its general fund for its fiscal year which ended June 30th 2022. The fact there is a surplus is a surprise considering the three years of the pandemic with the need of the city going in to its reserves.
The city also reported a sharp decline in the cities pension liability with it dropping by almost $83 million. The city at fiscal year end has a general fund balance reserves of $57.8 million which exceeds the goal by the city to have a $55 million general fund balance reserve.
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