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Emptied trash cans stand in the street in Los Angeles, California. City Controller Wendy Greuel warns that the city could run out of money as soon as May 5. Would it cause an immediate shutdown of basic services?
Citing an “urgent financial crisis,” City Controller Wendy Greuel has said Los Angeles could run out of money in as few as four weeks. Will the City Council and Mayor Villaraigosa release $90 million in reserve funds to keep the City operating until June 30? Are layoffs imminent? DWP rate hikes? How will the City resolve the budget crisis?
Update: Mayor Antonio Villaraigosa has announced a plan to close non-revenue generating city agencies two days a week, effective April 12. More here.
Wendy Greuel, Los Angeles City Controller