|
|
| L.A. County budget unveils $22.8 billion |
| By Molly Hennessy-Fiske |
| Published: 04/21/2009 |
|
Los Angeles County officials on Monday unveiled a $22.8-billion budget for the coming fiscal year that cuts $415 million from the current budget, taps reserves to offset dwindling tax revenue and eliminates 1,684 positions that are mostly vacant. Although county officials want to avoid layoffs, they warned that additional cuts probably will be needed this year depending on the economy and the state budget. The budget also fails to account for a $257-million shortfall in funding for health services, which health department officials are expected to address soon. "Unlike previous years, this budget has to be very fluid," said William T Fujioka, the county's chief executive. Fujioka said he hoped that new contracts with county workers will be negotiated in the spirit shown by the public safety unions earlier this year, which agreed to no salary increase for a one-year contract extension. He said the county is not asking for concessions in current contracts. The proposed county budget covers an expected $300.4-million budget gap by trimming $107.2 million from departments and drawing $115.5 million from reserves and $77.7 million from the federal stimulus package. The budget accounts for a 1% drop in property assessments, but Fujioka said recent estimates show that is expected to more than triple to 3.3% during the coming fiscal year as more homeowners appeal their assessments. As a result, the county will probably have to adjust the budget in June to account for an additional $88.3 million in lost tax revenue. Read more. If link has expired, check the website of the article's original news source. |
MARKETPLACE search vendors | advanced search
IN CASE YOU MISSED IT
|
Comments:
No comments have been posted for this article.
Login to let us know what you think