LA WATCHDOG-Reliable sources in Washington are saying that the Biden administration is having second thoughts about appointing Los Angeles Mayor Eric Garcetti to be the country’s Ambassador to India, a country of increasing strategic importance to the United States in its efforts to curtail the political and economic influence of the People’s Republic of China.
LA WATCHDOG-The City Council and its lack of financial discipline have once again created a Structural Deficit, where the increase in spending is greater than the growth of tax revenues.
LA WATCHDOG--The City’s Reserve Fund is intended to be used for emergencies and unforeseen expenditures, such as those created by the recent pandemic, an earthquake, or a wildfire.
LA WATCHDOG--The Economic Development and Jobs Committee of the Los Angeles City Council authorized the Chief Legislative Analyst to release a Request for Proposal (“RFP”) seeking consulting services needed to conduct policy, fiscal, and economic analyses related to the formation of a public bank serving the City of Los Angeles.
LA WATCHDOG--The infusion of $1.35 billion from Washington into the City’s coffers has set off a feeding frenzy among the members of the City Council which threatens the long term financial integrity of the City.
LA WATCHDOG--The Mayor’s Proposed Budget calls for an “investment” of $24 million in a Universal Basic Income (“UBI”) pilot program that will provide 2,000 low income Angelenos with $1,000 a month in unrestricted funds for one year, a total of $12,000 for each participant.
LA WATCHDOG-While the City is anticipating the cash infusion of $1.35 billion from the Federal government, the timing is uncertain, creating significant cash flow issues that must be addressed, especially in the upcoming fiscal year.
LA WATCHDOG--Despite the infusion of $1.35 billion from the Federal government, the City of Los Angeles still has a Structural Deficit that it is unwilling to attack.
LA WATCHDOG--The infusion of $1.35 billion of cash to the City’s coffers pursuant to Washington’s American Rescue Plan will allow the City to stabilize its finances, eliminate budget deficits, fund numerous one time projects, and establish a sizeable Reserve Fund.
LA WATCHDOG--The Department of Water and Power is planning a series of outreach meetings with Ratepayers and other interested parties to discuss the Los Angeles 100% Renewable Energy Study (“LA100”) that outlines various plans that will provide City residents and businesses with reliable 100% clean renewable energy by 2045.
LA WATCHDOG--The Legislature is considering the establishment of BankCal that will provide no-fee debit cards to many unbanked and underbanked Californians.
LA WATCHDOG--Charter Amendment B: Shall the City Charter be amended to allow the City to establish a municipal financial institution or bank?
LA WATCHDOG--The Los Angeles 100% Renewable Energy Study indicates that the Los Angeles Department of Water and Power can provide the City’s residents and businesses with reliable 100% clean, renewable energy by 2045.
LA WATCHDOG--The City Administrative Officer’s Third Financial Status Report recommendations on how to handle the City’s $1.354 billion windfall from the federal government pursuant to the American Rescue Plan (“ARP”) are spot on.
LA WATCHDOG--It appears that the proponents of recalling Governor Gavin Newsom will have enough signatures to place a measure on the ballot to recall Newsom.
LA WATCHDOG--Homelessness and affordable housing are major issues facing the City of Los Angeles
WHO’S WHATCHING THE WATCHDOG?-A recent LA Times report adds fuel to the suspicions of some City Hall observers that the City Ethics Commission, instead of being a fierce watchdog of the public interest, is too often a myopic, fearful lapdog.