TORRANCE, Calif. (KNX) — The city of Torrance is in financial distress, and it could soon be in the hands of voters to help get them out of it.
A quick glance at a ranking of cities in Los Angeles County, shared by the state auditor’s office, shows that Torrance is the fourth-worst ranked city in the state - earning only 32.6 out of an overall 100 points possible on the rating scale.
Unfortunately, there are five L.A. County cities ranking as the top 10 worst in California on the state auditor’s list, including Compton (#1), San Gabriel (#3), Montebello (#7) and Anaheim (#8).
Ratings are based on the amount of general fund reserves, debt burden and pension obligations, among other factors.
In Torrance, city officials have said many issues have developed or worsened due to the COVID-19 pandemic.
“Beginning in March of 2020, [Torrance] experienced a cyber incident followed immediately with the declaration of a local health emergency by Los Angeles County and the City of Torrance due to the pandemic,” City Manager Aram Chaparyan said in a proposed budget plan, adding that it’s been difficult to recover in the nearly two years that have followed.
In February, city council members will vote on whether or not to put a three-quarter-cent sales tax on the June 2022 ballot. The tax, according to the Daily Breeze, would “generate roughly $26.7 million per year, with about 29% paid by non-residents.”
The numbers boil down to about $130 per Torrance resident each year, or about $11 per month on average, the newspaper reported, citing an analysis by city staff. The council is set to vote in February on whether to pass the sales tax measure and put it on the June 2022 ballot.
If they decide against the proposed taxt, the city could face a five percent cut across various city departments in the next fiscal year, council members said last month, in order to balance the budget.
That five percent cut would save Torrance about $13.9 million, but would reduce services at libraries and the Madrona Marsh Preserve and spell the end for the Torrance Art Museum and both senior and after-school programs, according to details shared at an Oct. 12 council meeting.
The city’s next fiscal year begins on July 1.
Follow KNX 1070 Newsradio
Twitter | Facebook | Instagram
Related
