Support for LAist comes from
Made of L.A.
Stay Connected

Share This

This is an archival story that predates current editorial management.

This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.


L.A. to be $100 Million in the Black by End of June?

current events
Support your source for local news!
The local news you read here every day is crafted for you, but right now, we need your help to keep it going. In these uncertain times, your support is even more important. Today, put a dollar value on the trustworthy reporting you rely on all year long. We can't hold those in power accountable and uplift voices from the community without your partnership. Thank you.

Councilman Eric Garcetti thinks that's an actual possibility. In a comment he left on LA Weekly's website, he said "Our work in February and March has resulted in further real savings that will total about $50-$65 million more by the end of June (end of our fiscal year). Combined with slightly better property tax receipts, we will be able to meet our obligations for this year. Nevertheless, I hope the DWP gives the transfer to the residents of the city that they promised to just two months ago. Combined with the actions we have taken and the slight revenue uptick, we could land at the end of the year about $80-$100 million in the black." Not bad! But as the Weekly notes, on July 1st when the new fiscal year begins, we start off with a projected $485 million deficit.

Most Read