Tags: BNALL | BNSTAFF | BNTEAMS | BON | BTX | BUD | BUSINESS

Los Angeles County Executive Fujioka Unveils $23 Billion Budget

Monday, 18 Apr 2011 05:50 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

April 18 (Bloomberg) -- William Fujioka, the chief executive officer of Los Angeles County, whose population exceeds that of 42 states, unveiled a $23.3 billion proposed budget that cuts vacant jobs to help close a deficit.

Fujioka, who runs the nation’s most-populous county, with 9.8 million people, would erase a $220.9 million gap for the fiscal year that begins in July with $185.2 million in one-time funding measures and $35.7 million in spending cuts along with eliminating 257 jobs, according to a statement from his office.

“The county is in much better financial shape than many other municipalities because of the fiscal practices and long- term budgeting discipline by the Board of Supervisors,” Fujioka said in the statement.

Revenue has “rebounded slightly,” with an annual gain of 5 percent in sales taxes projected for fiscal 2012, according to a budget presentation. Receipts from property levies are forecast to increase less than 1 percent. Since fiscal 2007, the number of general-relief cases, where indigent adults get financial assistance, has almost doubled, to about 106,900 this year from 58,600, according to the county.

The county supervisors will hold a public hearing on the proposal starting May 11. The spending plan must pass the board to become final.

Department budgets have been reduced 17 percent through the past four years, according to the statement. Structural changes have led to $406 million in cost cuts and the elimination of more than 2,700 jobs in that time, it said.

--Editors: Ted Bunker, Stephen Merelman.

To contact the reporters on this story: Christopher Palmeri in Los Angeles at cpalmeri1@bloomberg.net.

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Catholic Church Emerges as Force in Response to Border Crisis

Friday, 01 Aug 2014 11:27 AM

The Catholic Church has become involved in states most affected by the crisis of Central American immigrants crossing th . . .

AP Poll: Less Than Half Think Obama Handling Foreign Policy Well

Friday, 01 Aug 2014 09:51 AM

Foreign policy used to be a bright spot in Americans' dimming opinion of President Barack Obama. Not anymore. Associated . . .

Pot Brownies, Edibles Coming Under Tough New Guidelines

Friday, 01 Aug 2014 09:45 AM

It will soon be easier for people in Colorado who consume pot brownies and other marijuana-laced edibles to know how muc . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved