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Treasury and finance staff brief committee; council requests cyclical special-fund review

Budget and Finance Committee (City of Los Angeles) · December 3, 2025
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Summary

City Treasurer and finance staff said special-fund reviews can identify unspent or restricted balances but require case-by-case budget analysis; council approved an amendment asking the CAO and CLA to recommend fiscal-policy changes for regular cyclical reviews of special funds and inactive encumbrances.

Committee members questioned whether the city performs a comprehensive, cyclical review of special funds and encumbrances and whether investment-pool accounting permits tracing fund-age or repurposing cash.

City Treasurer staff said the investment portfolio is managed on a pooled basis and while departments administer special funds, a case-by-case budgetary review would be required to determine whether funds can be repurposed because many special funds have legal restrictions. The treasurer noted the typical annual budget process and controller exercises already surface many special-fund items, but added stricter fiscal policies could be considered.

Council member McCosper moved and the committee approved an amendment asking the CAO and City Attorney (CLA) to report on recommended revisions to fiscal policy that would require cyclical departmental reviews of special funds and mechanisms to identify and release outdated or inactive encumbrances. The item was approved as amended.

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