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.

FY 23-24 Budget Documents

FY 23-24 Adopted Budget(PDF, 11MB)

FY 23-24 Budget Overview Presentation(PDF, 2MB)

To view previous year budgets, click here.

Annual Comprehensive Financial Report (ACFR)

Each year, the city produces the annual ACFR. 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 ACFR 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 ACFRs can be accessed here:

• June 30, 2023 ACFR(PDF, 4MB)
• June 30, 2022 ACFR(PDF, 4MB)
• June 30, 2021 ACFR(PDF, 2MB)
• June 30, 2020 ACFR(PDF, 1MB)
• June 30, 2019 ACFR(PDF, 1MB)
• June 30, 2018 ACFR(PDF, 3MB)
• June 30, 2017 ACFR(PDF, 1MB)
• June 30, 2016 ACFR(PDF, 2MB)
• June 30, 2015 ACFR(PDF, 8MB)
• June 30, 2014 ACFR(PDF, 3MB)

Financial Policy

Each year the city adopts an investment policy(PDF, 1MB) 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.

ROPS Payment Schedule

The County Oversight Board approved the Recognized Obligations Payment Schedule (ROPS 24-25) for the period July 1, 2024 through June 30, 2025. The ROPS was submitted to the California Department of Finance for review.

• ROPS 24-25 (July 1, 2024 through June 30, 2025)(PDF, 134KB)

Additional information about the elimination of redevelopment agencies can be found on the California Department of Finance's website. 

Transparency

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.