Gardena is very proud to announce that, on Dec. 10, 2009, the City was notified by Standard & Poor's Ratings Services that the rating on the City of Gardena, CA 2006 refunding Certificates of Participation (COPs) Series A, B, and C, was raised two notches to 'A-' from 'BBB'. 

This is a confirmation of what city officials, employees and residents already know. Under new City Council and City Manager leadership the City has consistently improved its financial stability over the last 11 years, coming from near bankruptcy to healthy reserves in its general fund balance. 

Standard & Poor's credit analyst David Hitchcock stated that the City has a “stable outlook” which “further reflects our expectation that Gardena will continue to maintain balanced or surplus operations with adequate reserve levels. Other rating factors included the City's participation in the greater Los Angeles area economy; a good unreserved general fund balance position; and a concentrated revenue base.”  This is quite an accomplishment in today’s economic times.

The City attributes its ability to stay the course not only to strong Council-City Manager leadership but to the unwavering commitment of City employees. Throughout the late 1990s through the year 2007 City employees forewent basic cost of living increases, patched together old city vehicles and equipment, and existed on minimal operational funding, yet never wavered in their efforts to provide excellent public service. We believe that Gardena is the “City of Opportunity” as we have proven by overcoming our own challenges. In today’s economy City leadership and  City staff are applying the lessons learned during those years of financial struggles to keep the City moving forward financially.