Support for LAist comes from
Local and national news, NPR, things to do, food recommendations and guides to Los Angeles, Orange County and the Inland Empire
Stay Connected
Listen

Share This

News

LA Controller Forecasts A $231M Hit To The City's Bottom Line With Steeper Declines Coming

()

Congress has cut federal funding for public media — a $3.4 million loss for LAist. We count on readers like you to protect our nonprofit newsroom. Become a monthly member and sustain local journalism.

How hard is the coronavirus pandemic hitting city government?

Without a major infusion of cash from the federal government, things look fiscally bleak here in Los Angeles.

L.A. City Controller Ron Galperin released a revised revenue estimate today that forecasts a $231 million hole in the 2019-20 budget and an even bigger gap next year. The city’s 2020-21 budget could have a revenue shortfall “between $194 million and $598 million, depending on the length of the current shutdown and the speed at which the economy begins to recover," Galperin said.

“The City is facing an unprecedented crisis due to the coronavirus pandemic, and our revenue outlook is much darker than it was even a month ago. While these struggles are not unique to Los Angeles, our City is in a better position than most municipalities because of the diversity of our revenue streams and healthy Reserve Fund balance.”


His office also released these charts showing the forecast:
Support for LAist comes from



The full report is available on the controller’s website.


During his Tuesday evening briefing, Mayor Eric Garcetti said his team is writing a proposed budget "as we speak." It’s due to be presented to the city council no later than Monday, April 20. The budget needs to be passed by the council by June 1.

"There's no question though, that we are going to have cuts,” Garcetti added, before making a plea to Congress and the White House for more bailout money for local governments in the next round of COVID-19 relief spending.

MORE ON REVENUE WOES:

This developing story will be updated.

Support for LAist comes from

Our news is free on LAist. To make sure you get our coverage: Sign up for our daily coronavirus newsletter. To support our non-profit public service journalism: Donate Now.

As Editor-in-Chief of our newsroom, I’m extremely proud of the work our top-notch journalists are doing here at LAist. We’re doing more hard-hitting watchdog journalism than ever before — powerful reporting on the economy, elections, climate and the homelessness crisis that is making a difference in your lives. At the same time, it’s never been more difficult to maintain a paywall-free, independent news source that informs, inspires, and engages everyone.

Simply put, we cannot do this essential work without your help. Federal funding for public media has been clawed back by Congress and that means LAist has lost $3.4 million in federal funding over the next two years. So we’re asking for your help. LAist has been there for you and we’re asking you to be here for us.

We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.

No matter where you stand on the political spectrum, press freedom is at the core of keeping our nation free and fair. And as the landscape of free press changes, LAist will remain a voice you know and trust, but the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news from our community.

Please take action today to support your trusted source for local news with a donation that makes sense for your budget.

Thank you for your generous support and believing in independent news.

Chip in now to fund your local journalism
A row of graphics payment types: Visa, MasterCard, Apple Pay and PayPal, and  below a lock with Secure Payment text to the right
(
LAist
)

Trending on LAist