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Los Angeles controller warns of structural deficit, urges two‑year budget and clearer performance measures
Summary
City Controller Kenneth Mejía presented the office—s projections showing a shrinking general fund balance, lower receipts and increased debt-service needs, recommending a two‑year budget, performance-based measures and a realignment of reserve policies.
City Controller Kenneth Mejía told the Budget and Finance Committee the city faces a structural shortfall, urging a two-year budget, a capital infrastructure plan and more realistic revenue projections.
Mejía and staff said they estimate the general fund will end the current year with about $7.9 million — roughly $140 million below the adopted budget forecast — and project even lower reserves next year at $7.8 million, driven primarily by reduced receipts and the fading of pandemic-era federal funding.
Why it matters: The controller warned the committee that the city may need $350 million to $525 million in short-term borrowing between July and December to…
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