L.A. is $63 Million Overbudget

One quarter into the 2010-11 fiscal year and Los Angeles' "spending is running $63 million more than expected," according to the Daily News. The information comes from City Administrative Officer Miguel Santana, who warned the City Council last week in the latest financial status report. The overrun can be covered by the reserve and unappropriated balance accounts, but come June, there's an anticipated $318 million deficit expected. (h/t LA Observed)