Budgets & Financial Transparency
The City Council makes financial planning a strategic goal each year. The budget process for the city is a year-round activity. Revenues and expenditures are analyzed and tracked each month in preparation for developing the Municipal Budget, which the City Council adopts each June.
For an interactive look at city finances, see the Transparency Portal page.
To view previous year budgets, click here.
Comprehensive Annual Financial Reporting (CAFR)
Each year, the city produces the annual CAFR. The report is intended to provide city officials and the general public with a complete and comprehensive view of the City’s financial activity, condition, and performance at the close of the fiscal year. The CAFR is reviewed by an independent auditor to ensure accuracy in reporting and that the report was prepared in accordance with generally accepted accounting principles.
The current and previous year’s CAFRs can be accessed here:
- June 30, 2018 CAFR (PDF)
- June 30, 2017 CAFR (PDF)
- June 30, 2016 CAFR (PDF)
- June 30, 2015 CAFR (PDF)
- June 30, 2014 CAFR (PDF)
Each year the city adopts an investment policy (PDF) as required by California Government Code Section 53646. The adopted policy authorizes a conservative approach to city investments, both long term and short term, and authorizes only those investments provided for in the State Government Code.
The city takes every opportunity to provide the public with budget and financial information. In addition, there are several services that provide online graphical representation of city finances. The California State Controller’s Office offers a free tool to track revenues, expenditures and other financial data for all California cities. You can also compare the City of South Gate to other cities in the state online. Also on the State Controller’s site is an area where you can view public employee salaries.