By Melissa St. Aude | Casa Grande Dispatch
The city of Casa Grande is worth almost $300 million.
City Finance Director Doug Sandstrom told the City Council that at the end of the last fiscal year — June 30, 2014 — the city was valued at $299.2 million.
Although the city’s value dropped by $8 million from 2013, Sandstrom said that relatively small difference indicates financial stability.
“That’s reflective of a city that’s in maintenance mode,” Sandstrom said. “We’re expending as much money as we’re taking in. We’re reinvesting money back into our assets, and we’re taking care of what we’ve got.”
A city’s net position is its value. It is determined by assigning a monetary value to everything the city owns — streets, libraries, the sewer plant and other properties — then adding cash in the bank and subtracting debt owed. What’s left is a figure that estimates the city’s worth.
