Los Angeles City Council Approves $8.6 Billion City Budget
‘Our Budget Has Taken a Turn for the Better, We Still Have Work to Do.’
-City Councilmember Paul Krekorian,
Budget and Finance Committee Chair
LOS ANGELES- Today, after three weeks of day-long budget meetings and exhaustive input from city departments and the public, the Los Angeles City Council approved an $8.6 billion balanced city budget for Fiscal Year 2015-2016.
“Without a doubt, our city’s budget situation has taken a turn for the better,” said Councilmember Krekorian, LA’s Budget Chief. “We experienced significant growth, maintained and even added neighborhood services, and established the largest rainy day fund in the city’s history. This is the best budget we’ve had in years and it is because of responsible budgeting that will protect our city for years to come.”
Krekorian concluded: “Our work isn’t done yet. There is still an ongoing structural deficit that we need to eliminate as soon as we can. I’m confident we will get there through continued collaboration. As the economy continues to grow, I look forward to doing even more to restore services across the city.”
“City residents asked for more tree trimming and sidewalk repair services for their neighborhoods and this year’s budget delivers just that,” said City Council President Herb Wesson. “The City Council was successful in creating the city’s largest rainy day fund in history setting aside more than $300 million in reserve funding for the unexpected.”
See below and the attached infographic for budget facts.
About the Budget
· $8.57 billion total budget
· $5.39 billion in revenues
· Revenue increases from Property Tax, Utility Users’ Tax, Business Tax, Sales Tax and more
Saves for a Rainy Day
· $313 million Reserve Fund, highest in city history
· $92 Million Budget Stabilization Fund
Improves Quality of Life
· 2,400 miles of street repairs
· 350,000 potholes filled
· $20 million to fix sidewalks
· $6.5 for tree trimming, a 50% increase over last year
· $9 million for the Clean Streets program to clean up alley and street trash
· $1.7 million for graffiti removal
· $2.1 million for median maintenance
Ensures Public Safety
· $55 million more for the Fire Dept.
· 270 new firefighters in 5 recruit classes
· $1.8 million for fire safety and technological improvements
· $4.5 million for ambulance and fire services
· $70 million for LAPD overtime
· $4.5 million for police body cameras
· $500,000 to reduce fingerprinting backlog
Funds Housing and Social Programs
· $10 million more for affordable housing
· New programs for homeless vets
· Restored funding for domestic violence shelters, AIDS and disability programs, youth programs, family help centers, senior and caregiver programs and day laborer sites throughout the city
Background: How We Got Here
· April 20: Mayor Garcetti budget proposal
· April 28: Budget and Finance Committee began 40 hours of hearings over 3 weeks
· Considered budgets of 44 city departments, bureaus and agencies
· Heard 112 of public comments and presentations from the Coalition of LA City Unions and the Neighborhood Council Budget Advocates
· Considered 100 reports and memos
· May 21: the full City Council adopted the budget
Better Economy, Better Budget
· This budget reflects the impacts of LA’s continued economic growth
During the recession, the City projected a $1.1 billion deficit
· Hard decisions by the City Council reduced deficit by more than $800 million
· Started this year’s budget process with a $165 million deficit
