Briefs

LA City Controller Releases Preliminary Financial Report

Los Angeles City Controller Ron Galperin released his 2020 Preliminary Financial Report, which covered fiscal year 2019-2020, which ended in June 2020. City revenues were higher than 2018-2019, but still came in under budget due to the pandemic. Specifically, revenues increased by 2.3% in the General Fund and shrank by -2% in on-budget special funds, and revenues were 3.7% less than projections. Expenditures grew by 10% because of salary and benefit increases and capital improvement projects. To address financial issues, Galperin suggests that the city focus on revenue and limit spending; rebuild the reserve fund; leverage city properties and special funds; and expand infrastructure programs to help negatively affected communities. Galperin will release his Comprehensive Annual Financial Report for the 2019-2020 fiscal year in early 2021.

Details: https://lacontroller.org/financial-reports/pfr2020/

Reporters Desk

Recent Posts

County to Protect Medi-Cal and CalFresh Access for 1.7 Million Residents Amid New Federal Work Requirements

The motion also calls for the expansion of workfare and volunteer opportunities across county departments…

21 hours ago

Governors Briefs: CalRx® Insulin, $11 a Pen, Will Soon be Available and Appointment Announced

This launch marks a significant step in the state's ongoing effort to lower prescription drug…

22 hours ago

Purdue Student Paper Shows Solidarity With Rival

  After the Indiana University Media School fired its director of student media and banned…

22 hours ago

POLA Lead Attorney Steve Otera Named Corporate Counsel of the Year by LA Business Journal

  LOS ANGELES — The Los Angeles Business Journal has given a top legal honor…

23 hours ago

Ports Briefs: POLB Cargo Slows as Clean Truck Study and Air Quality Report Highlight Progress

The Final 2024 Class 8 Drayage Truck Feasibility Assessment Report focuses on battery electric and…

1 day ago

Public Health Investigating Possible Local Spread of Clade I Mpox; Third Case Confirmed in Los Angeles County

So far in 2025, Public Health has reported 118 cases of clade II mpox.

2 days ago