Higher Risk of Financial Distress
Ventura, currently ranking in the bottom 27 percent of California cities, is considered at Moderate Risk of Financial Distress.
Ventura set-aside the bare minimum in General Fund reserves; is burdened with a high level of long-term debt; and projected annual payments to its CalPERS pension plan in fiscal year 2027-28 are significant compared to its current total government revenues. Ventura does not offer post-employment benefits, which reduces overall financial risk.
Ventura should carefully evaluate its financial position and possibly reduce services or other expenses, to prepare for unforeseen challenges and does not become distressed in the future.
Oxnard, currently ranked in the bottom 10 percent of California cities, is also considered at Moderate Risk of Financial Distress.
Oxnard set-aside the bare minimum in General Fund reserves; is burdened with a high level of long-term debt; projected annual payments to its CalPERS pension plan in fiscal year 2027-28 are significant compared to its current total government revenues; and the city set-aside 0 (zero) funds to cover promised post-employment benefits like health and dental for retired employees.
Oxnard may need to reduce services or other expenses, to deal with a major economic event, such as a recession.