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Budget Committee Preview: Making Sure L.A. Doesn't Break the Bank
Photo by arne boell via Flickr
Since everyone's eyes are on Los Angeles' budget these days, here's a preview of Monday's 1 p.m. Budget Committee meeting (.pdf).
- Committee members will discuss the Financial Status Report from Friday. It brings the news that the city has a bigger deficit than before, now at $222.4 million (see LAist's breakdown of this report here).
- In reaction to the report, a motion has been submitted to transfer millions from the city's reserve fund to the general fund to keep the city afloat. The reserve should be around $350 million, but projections have it at $39 million by the end of June.
- Another motion seeks the same, but specifies that $90 million should be transfered from the reserve fund.
- And completely unrelated to the budget crisis, but city business nonetheless, Councilmember Tom LaBonge wants to sell one surplus Seagrave fire engine at below market rate ($1!!!) to the nonprofit Los Bomberos, which "mentors firefighter candidates; participates in efforts to recruit and train qualified candidates for the Los Angeles Fire Department (LAFD); and fosters upward mobility among its members." A city analysis recommends the motion is approved.
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One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
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