“There are no easy decisions or simple ways to solve this budget crisis,” Mayor Antonio Villaraigosa said. “But as the CEO of this great city, it is my responsibility to make these difficult, but necessary, decisions to steer the city out of this crisis and onto solid financial ground.” These words came L.A’s mayor who has announced Tuesday for a plan to shut down all city services — except for public safety and revenue-generating positions — twice a week beginning Monday in an effort to solve the city’s budget crisis. Day before this announcement, the Department of Water and Power said that they will not pay the city’s $73 million general fund. City Controller Wendy Greuel said, the city’s general fund will be negative $10 million on May 5 because of this. She called the situation “the most urgent fiscal crisis” in the city’s recent history. She urged the mayor to transfer $90 million from the city’s reserve funds so that she could pay city employees and the city’s bills. L.A will have Cost Cutting Plans Implemented is a post from: Daily World Buzz
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L.A will have Cost Cutting Plans Implemented
