LA WATCHDOG--The City of Los Angeles has the legal obligation to ensure that its financial statements are “true and complete in all material respects.”
LA WATCHDOG--We have been critical of our Department of Water and Power, in large part because City Hall views the Ratepayers as an ATM to finance its operations and pet projects.
LA WATCHDOG--“It’s more than just climate change. It’s about dog-eat-dog capitalism meeting climate change. It’s about corporate greed meeting climate change.
LA WATCHDOG--According to the Sacramento Bee, Mayor Eric Garcetti strongly supports the Split Roll ballot measure that would value business properties at market value as opposed to the current practice under Proposition 13 which assesses the value based on the purchase price (plus 2% a year appreciation).
LA WATCHDOG--When Mayor Eric Garcetti presented his “balanced” budget on April 18, the Four Year Budget Outlook prepared by Richard Llewellyn, the City Administrative Officer, showed that the City would generate a surplus in each of the next four years, topping out at $78 million in 2024. The four-year cumulative surplus was $200 million.
LA WATCHDOG-“Wesson intends to bring the bank proposal back to the ballot again after the idea has been fleshed out so voters can approve the final concept.” Los Angeles Times editorial of September 20, 2018.