On October 7, 2025, the California State Auditor officially removed the City of Richmond from its High-Risk Local Government Agency list—recognizing the City’s remarkable progress in restoring fiscal stability and accountability.
The follow-up Audit Report highlighted that Richmond’s general fund revenues have exceeded expenditures since FY 2021–22, reflecting the City’s sound financial management. Richmond has built strong reserves, implemented best practices in debt management and workforce planning, and strengthened oversight of the Richmond Housing Authority.
This achievement represents a key step forward in the City’s financial recovery and positions Richmond for sustainable growth and future opportunities.
To view the press release visit: 2025-10-07-Press-Release--Richmond-removed-from-high-risk-designation-by-California-State-Auditor
Read the full report: https://www.auditor.ca.gov/reports/2025-801/