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Watch As LA Mayor Karen Bass Unveils Proposal To Address Nearly $500 Million Budget Deficit
Los Angeles Mayor Karen Bass.
(
David McNew
/
Getty Images
)
Topline:
Los Angeles Mayor Karen Bass on Monday presented a proposed budget as the city struggles with an ongoing deficit in the hundreds of millions of dollars.
Why it matters: Chief Administrative Officer Matt Szabo has said a $476 million projected deficit for the current fiscal year is composed of $289 million in overspending and $187 million less revenue than expected.
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Why now: The budget shortfall for the upcoming fiscal year, which starts July 1, is expected to be higher partly because of new contracts with the city’s multiple labor unions.
What's next: Bass has argued that removing vacant positions from the budget would not affect services, and has promised to use the elimination of those vacancies to conduct better budgeting in the future.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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