LA WATCHDOG-The California Public Employees’ Retirement System (CalPERS) reported that its investment portfolio lost 1.9% for the first five months of its fiscal year (July to November). 

LA WATCHDOG--You would think that the Budget and Finance Committee of the Los Angeles City Council would be doing everything possible to eliminate the projected $84 million budget deficit that was discussed in the Second Financial Status Report issued on December 6 by the City Administrative Officer. 

LA WATCHDOG--The Second Financial Status Report issued on December 6 by the City Administrative Officer (“CAO”) said that the “currently projected expenditure imbalance of $83.9 million is still at a significant level.”  

LA WATCHDOG--For true blue Dodger fans, the off season is one of great anticipation. The team is building its roster for the upcoming season to make another run at the elusive goal of winning the World Series. 

LA WATCHDOG--The $8.1 million Silver Lake Reservoir Stormwater Capture Project is designed to capture 159 acre feet of stormwater (52 million gallons) from 171 acres surrounding the lake and to divert the cleaned up (but not drinkable) water into the out of service Silver Lake and Ivanhoe Reservoirs. 

LA WATCHDOG--On Monday, about to be termed out City Council President Herb Wesson announced that he is entering the race to succeed Mark Ridley-Thomas, a long time County Supervisor who is also termed out in 2020. 

LA WATCHDOG--On Saturday, the Los Angeles Neighborhood Council Coalition (“LANCC”) passed the following motion demanding that embattled Councilman Jose Huizar resign from the City Council. 

LA WATCHDOG--Over the past two years, our DWP bills have soared beyond anyone’s expectations, significantly higher than was projected in the 2016 rate case. 

LA WATCHDOG--Where there is smoke, there is fire, especially when it involves City Councilman Jose Huizar. 

LA WATCHDOG--On March 3, 2020, a little more than 15 months away, in 67 weeks from now, and in 469 days from Tuesday, we will once again go to the polls as California will hold its Presidential Primary.  

LA WATCHDOG--The City’s two pension plans had a 9.75% return on its investment portfolio of $36 billion for the fiscal year ending June 30, 2018 according to the recently released actuarial reports.  This is 2.5% higher than the targeted rate of return of 7.25%. 

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--While Eric Garcetti has been prancing around the country promoting his presidential pedigree, the City of Los Angeles is experiencing “over expenditures” of almost $100 million for the first two months of its fiscal year, blowing a hole in the City’s supposedly balanced budget. 

LA WATCHDOG--When you oppose a new tax such as the State’s Gas Tax or the County’s Rain Tax, the all-knowing political establishment, the leaders of the campaign funding public sector unions, and many other bottom feeders go ballistic, claiming that you are clueless, ill informed, and mean spirited, and do not understand the big picture and the nuances of the budget and government finance. 

LA WATCHDOG--We are being bombarded by so many political ads that we are having a difficult time sifting through all the clutter, trying to separate fact from fiction, so that we can make a rational decision on how to vote on eleven State propositions, one County measure, and three City charter amendments. 

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--Despite record revenues, the State of California is asking us to approve $14 billion in bonds (Propositions 1, 3, and 4) while the County of Los Angeles wants the voters to bless the $300 million Rain Tax (Measure W).

LA WATCHDOG--The City, the County, and the State are hauling in record revenues totaling almost $250 billion, including over $40 billion from the four million residents of the City of Los Angeles. But it is never enough as the State has placed on the ballot measures to authorize $14 billion in bonds while the County is asking us to approve the $300 million Rain Tax to fund stormwater projects (measure W). 

LA WATCHDOG--We are being asked to repeal the regressive $5.2 billion gas tax that was approved in April 2017 by two thirds of the Legislature and the Governor, but only after much arm twisting and unsavory side deals to buy votes. 

LA WATCHDOG--Mayor Eric Garcetti’s Budget and Policy Goals memo for Fiscal Year 2019-20 that was sent to the General Managers of the City Departments is using the homeless crisis to divert attention away from his fiscal mismanagement of the City’s finances despite record revenues from a robust economy. (See letter below.) 

LA WATCHDOG--Everybody wants clean air, especially here in Los Angeles.