Results tagged “citybudget”

A mid-year budget report addressed to Mayor Villaraigosa and the Los Angeles City Council last Friday evening had sobering, but not surprising news. Los Angeles is in deep financial trouble and it's going to take years to get out of it. more ›

One has to wonder that if politics are involved with a current mid-year budget report, expected to be offiically released this afternoon, that in part examines 1,000 city hall layoffs as a budget solution. The City Attorney Office could see 100 members of his office go while the Mayor and City Council offices see a zero reduction and the City Attorney himself is ready to fight it, according to the LA Times. more ›

The insurmountable budget shortfall for the city of Los Angeles received another reality check today. City Controller Wendy Greuel today released her Bugedtary Cash Flow report one month early. "Traditionally, I report to you on March 1st of the year but the situation we are facing is so dire, I am compelled to update you now so that urgent action can be taken immediately," she wrote. more ›

The "B" in the word budget takes on so much more than its usual banal meaning these days for Los Angeles officials. The looming possibility of a billion dollar deficit within a few years and the predictions that the city will file for bankruptcy this Spring have brought such a boring subject into a bothersome, yet breathtaking light. more ›

And that's bad news for the city of Los Angeles and its budget deficit, which is expected to hit one billion in a few years. That 16% decline equals $186 million lost when held next to estimates, which were expected to only decline by 6%, reported the LA Times. "And overall tax revenue has declined by double digits for four quarters straight," reported the paper, which recieved an e-mail from the City's Administrative Officer saying “The city hasn’t seen this since the Great Depression.” A letter circulating in City Hall suggests layoffs for 1,000 employees. more ›

Amid the process of letting 2,400 city of Los Angeles employees retire early--a move to help save a dwindling city budget--a draft internal letter obtained by the Los Angeles Times indicates plans to sack at least 1,000 employees. "Revenues are significantly lower than original projections and we are prepared to make tough decisions, including layoffs and cuts in less-essential city services to our constituents," notes the letter, referring to tax revenues. more ›

A good LA Times editorial today takes a stab at directing city leadership into focused action as final decisions for next fiscal year's city budget (and deficit) near within the coming months. The Times acknowledges something we all know: Los Angeles is poorly run and we need a complete vision and a back-up plan. "Such strategizing doesn't come naturally to most politicians, and there's no shame in that, as long as they recognize their shortcomings and call for support. There is expertise in-house, if only city management -- the elected officials -- would listen. If not, maybe before contracting out the parking meters, they ought to contract out for some long-term thinking," the paper said. more ›

With a $98-million deficit still on the books for this fiscal year--a $408 million shortfall is predicted next year--Los Angeles city officials are likely going to be looking at more ways to balance the budget. In the past, we've all experienced these cuts with higher parking meter rates, more expensive parking tickets and the continuing loss of city services as 2,400 employees retire early with positions not being replaced, to name a few. more ›

Today, a pair of Los Angeles city council committees will discuss the controversial costs of the Michael Jackson memorial, which ended up costing taxpayers a pretty penny. $3.2 million for police, street closures and other services was spent by the city on the Michael Jackson memorial that was produced by AEG, who, as the LA Times points out, ended the spectacle with "All Rights Reserved" on television screens around the world. The discussion will entail if the council should move forward with having AEG pay some or all of the money back. The city budget is currently facing a $400 million deficit. more ›

City Controller Wendy Greuel is expected to release her second audit since entering office last July later today. According to her office, a wastewater disposal contractor took advantage of the city's lack of oversight and a poorly written contract to overbill and overcharge. more ›

Last week, Mayor Antonio Villaraigosa tweeted seven times, asking for fans for donations that would help offset the cost of Michael Jackson's public memorial service. Every tweet included a link to the city's website where the online donations could be given. more ›

Los Angeles has been in a large deficit for the past year--this year it could up to $530 million--forcing City Council to raise parking meter fees, citations and cut or delude city programs. However, that hasn't stopped them spending $1 million each year on "hand-inked calligraphy scrolls that bestow commendations on everyday folk, celebrities and supporters," the LA Weekly finds: more ›

Here's one simple step on how to lose a city's morale and trust of city government, via Kerry Cavanaugh at the Daily News: more ›

Today, Mayor Villaraigosa is set to release budget recommendations for the next fiscal year. He already said we are $406 million short this year and like last year, there will be much discussion and debate at the city council level of what to save and what to keep cut. Here are two lists, a top 5 of what to save and what to cut. more ›

Since the perk of giving Hybrid owners a free ride when it comes to Los Angeles city parking meters has been in the news lately, the always fiscally conservative Daily News opined on the issue today: "The right thing is for the council to kill the hybrid car perk." more ›

Problem: Los Angeles has a shortage of officers for its population and physical size. Budgets are tight, hiring freezes keep the department from hiring new civilian workers, forcing sworn officers to desk work rather than being out on the streets. Bottom line: the city is short 3,000 police officers to where Chief William Bratton would like it to be. more ›