By Stephen Frank Like Orange County a generation ago, Costa Mesa is going bankrupt and John Moorlach is ready to save it—like he did Orange County. “As he first showed me about two decades ago at the old OC Register building at 625 N. Grand Ave. in Santa Ana, the key number in city budgets is the “unrestricted net position” from the Annual Comprehensive Annual Report. A positive net position is good; a negative net position is bad, especially if it’s high, indicating risk of bankruptcy. Conveniently all of the reports now are online.
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