The Administrative Services Department administers the financial affairs of the City. The Department manages the City's:
- Financial reporting
With an established record of excellence in financial reporting, the Department is responsible for ensuring the City's long-term fiscal health. Its service-minded staff maintain the highest level of accuracy, accountability, and timeliness for both internal and external customers.
AAA Credit Rating
On August 11, 2015 Standard and Poor's (S&P) assigned an Issuer Credit Rating of AAA to the City of Los Alamitos. The Issuer Credit Rating of AAA is the highest rating available and reflects the view of S&P that the City has an "extremely strong" capacity to meet its financial obligations. The rating is based on a review of the:
- Local economy
- City management
- Financial measures such as liquidity, budgetary performance and budget flexibility
- The level of debt and contingent liabilities
- A review of the legal and practical environment (State law impacts) in which the City operates
A copy of the presentation that was made to S&P which contains demographic, statistical and financial information related to the City. For more information, view the S&P Presentation (PDF).
Financial Data Transparency Tool
The City has partnered with a company known as OpenGov to develop an online tool that allows users to directly access and analyze financial data in the form of interactive charts and graphs. Users can evaluate trends and perform multi-year analysis of the City's revenues and expenditures. For more information, access the Financial Data Transparency Tool.