LA WATCHDOG--The impact of the coronavirus on the City’s already precarious finances has yet to be determined, but there is little doubt that it will cause a materially change in the City’s budget for the fiscal year that begins on July 1, 2020.
LA WATCHDOG--On Monday, City Attorney Mike Feuer announced that he is running for Mayor and creating a fund-raising committee even though the March 2022 primary is two years away.
LA WATCHDOG--In November of 2018, 56% of the City’s voters rejected Charter Amendment B that would have allowed the City to establish a municipal bank despite the measure being endorsed by 170 organizations and members of the political establishment, including Mayor Eric Garcetti and 12 members of the City Council, including then City Council President Herb Wesson, the prime mover of this ballot measure.
LA WATCHDOG--“One day, hopefully, sooner or later, we’ll knock down the new coronavirus that’s got people rattled. But there is no vaccine for the virus that infects City Hall.” Steve Lopez, Los Angeles Times, March 11, 2020
REVIEW--Over the next month, CityWatch will run a series of articles on the Los Angeles City Employees’ Retirement System (“LACERS”), a $17.7 billion fund created in 1937 to prefund pension and post-retirement medical benefits for the City’s current and retired civilian employees.