LA WATCHDOG--The Department of Water and Power will ship $267 million of our hard earned cash to City’s coffers this fiscal year pursuant to the 8% Transfer Fee. Along with the 10% City Utility Tax of $344 million, the City’s total haul will be over $610 million, an amount equal to 16% of the Power System’s revenues.
LA WATCHDOG--You need be a skilled forensic accountant with a large, well trained staff to even begin to understand the shenanigans associated with the discretionary slush funds controlled by the fifteen members of the City Council. You may even need a high priced lawyer to haul the Council Members into court to have them honor your request made pursuant to the California Public Records Act.
LA WATCHDOG--Mayor Eric Garcetti, City Council President Herb Wesson, Budget Committee Chair Paul Krekorian, (photo above) and Personnel Committee Chair Paul Koretz all have their heads buried in the sand, ignoring the implications of a $15 billion unfunded pension liability, $1.5 billion in annual pension contributions consuming 30% of the General Fund, and a negative net worth in the its Governmental Accounts.
LA WATCHDOG--In late February, the City indicated that it was investigating a ballot measure that would authorize a new tax, fee, or bond offering to fund the City’s homeless plans that are estimated to cost $1.85 billion over the next ten years.
LA WATCHDOG--In 2007, the Bureau of Street Services estimated that the cost to repair our 4,600 miles of broken sidewalks was in the range of $1.2 billion. However, since that time, our City’s “leaders” have made very little, if any, progress in addressing the sorry state of our 10,750 miles of sidewalks that comprise over 2% of the City’s land mass.
LA WATCHDOG--On April 9, 2014, almost two years ago, the Los Angeles 2020 Commission recommended unanimously that our City create an independent Office of Transparency and Accountability to review and analyze the City’s budget and finances and the efficiency of its operations. But this recommendation, along with other constructive, easy to implement measures contained in the LA 2020 report, A Time for Action, was buried in the bowels of City Hall, never to be heard of again.