L.A. City Wallet Has $23.5 Million More Than Expected, Says Controller Wendy Greuel

By Dennis Romero Thu., Sep. 1 2011 at 11:51 AM

July's new Los Angeles city budget seemed like it was based on a little magical thinking. Viola -- and a few hundred million was somehow, some way erased from the books.

So call us humbled: City Controller Wendy Greuel today said that L.A. has 23.5 million more in its reserve fund than was expected in July when that optimistic budget was drawn up.

Sorry to give you such a hard time, Mayor Villaraigosa.

Ever the Debbie Downer, however, Greuel warns that we're not out of the woods yet.

She notes that the current fiscal year's budget was constructed with an economic "recovery" in mind (lolz, right?). As you can see, that recovery is working out wonderfully. That's not city leadership's fault. It just is.

In a letter today to the mayor and City Council, the controller notes the "recent turmoil in international, Federal and State economies." (Ya think?).

Greuel also wrote this:

The positive news of a higher than anticipated July 1 Fund Cash Balance is dampened by the bleak fiscal outlook that has been reported to you on multiple occasions ...

So, yeah, keep her steady, City Council. And maybe use some of that extra cash to fill a few potholes while you're at it. President Obama is coming to town next month. Wouldn't make for good press if his motorcade got swallowed up.

[@dennisjromero/djromero@laweekly.com]

Tags:

city budget, City Council, fiscal year, Los Angeles, surplus, Villaraigosa, Wendy Greuel

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Dandan

"Viola." Heh.

Obamamyman

Deficit was exagerated in order to get more concessions from the unions on their march to privatization, and justification for replacing the technical City employees with the Consultans (kick-backs). Remember the proposed privatizing of the parking meters and parking lots? With the leadership of this mayor we are witnessing more corrputions than ever before. We are becoming the Chicago of the West! Mayor is trying to milk the City while he is in office following the foot steps of Bush-Cheney. Create crisis by scaring people then go after your hidden agenda!

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Apples

Then return the money to Rec and Parks, whose City-charter mandated tax funding has been outright stolen by the Mayor and City Council as bogus "chargebacks" to other departments. PUT BACK OUR TAX DOLLARS IN REC AND PARKS, per the City Charter!