Office of the Controller – Update
LINK TO OFFICIAL LETTER FROM THE CONTROLLER TO THE MAYOR & CITY COUNCIL
The Controller’s Office has been working diligently to evaluate the financial impact of this pandemic on our City’s budget. This week, Controller Galperin released a Revised Revenue Forecast, which projects challenging budget times next year and for the foreseeable future. Nevertheless, the Controller also pointed out that “while these struggles are not unique to Los Angeles, our City is in a better position than most municipalities because of the diversity of our revenue streams and healthy Reserve Fund balance.”
We encourage you to read the Revised Revenue Forecast and check out the graphics and visuals that accompany it, which illustrate the financial data in a clear and interesting way.
The Controller’s newsletter is also a great resource for updates and information during the pandemic. If you haven’t already, please sign-up for our newsletter here and read past issues here. You can also follow us on social media @LAController on all platforms.