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Budget 2012

Budget 2012

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Published by Bill Rosendahl

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Published by: Bill Rosendahl on Mar 09, 2012
Copyright:Attribution Non-commercial

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03/09/2012

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City of Los Angeles City of Los Angeles Budget Overview Presentation 2012 Budget Overview Presentation 2012 
Presented by the Office of the City Administrative Officer Presented by the Office of the City Administrative Officer 
March 2012 
 
1
Topics 
General Overview
Fiscal Year 2011-12 Budget
Issues of Concern and Challenges
Development of the 2012-13 Budget
 
2
Overview 
Good News
2011-12 is in balance at this time
Reserve Fund stable (no transfer required at this time)
Projected shortfall for 2012-13 reduced from as high as $250 million toabout $220 million
Bad News
$220 million deficit
Major issues of concern still remain
City cut to the bone
(4,900 positions eliminated since 2007-08)
Ongoing new revenue options are limited without voter approval
Cost drivers continue to be pension, health care, workers’compensation, and employee compensation
Four year outlook will continue to show significant deficits

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