As the chair of the City Council's Budget and Finance Committee, Councilmember Krekorian oversees the $8.6 billion city budget. He has been a fiscal watchdog for the city and is responsible for reforming LA's finances and putting the city on a path to economic recovery.
When Councilmember Krekorian took office in 2010, the projected deficit for this year was more than $1 billion. Since then, Krekorian has helped the city reduce costs by more than $800 million, nearly eliminating the entire structural deficit. Under his leadership, the city has also established the highest reserve fund in decades.
Krekorian has also made improvements to the budget that benefit our neighborhoods by investing in infrastructure, public safety and people. He has restored needed funds to the Los Angeles Fire Dept., improved library hours, and directed funding toward sidewalk repair, tree trimming, graffiti abatement, neighborhood beautification projects, cleaning up illegally dumped items, and senior and student programs at our city's parks.
Erasing the city's budget deficit is Krekorian's first budgetary priority. Thanks to his committee's work, the city is on track to make this happen within the next three years.
Posted on May 20, 2016
After three weeks of budget meetings, input from 44 city departments and 173 public comments, my City Council colleagues and I just approved an $8.76 billion city budget for Fiscal Year 2016-2017. This is the city's fifth consecutive budget that I've had the pleasure to oversee as chair of the Budget and Finance Committee.
Posted on Apr 29, 2016
LOS ANGELES - Los Angeles City's Budget Chair, Councilmember Paul Krekorian, presided over the city's first week of hearings to review, modify and finalize the city's proposed $8.76 billion fiscal year 2016-2017 budget. The committee took comments from the general public and spoke to the leaders of 33 city departments, including the departments of Planning, Transportation, Recreation and Park, in addition to the bureaus of Street Services, Street Lighting, Engineering, Sanitation and more. This is Krekorian's fifth consecutive year at the helm of the city budget process.
Posted on Apr 22, 2016
LOS ANGELES - This week, Mayor Eric Garcetti released the details of LA's 2016-2017 budget proposal. The $8.76 billion spending plan hopes to prioritize homelessness, safety and neighborhood service.
Posted on May 22, 2015
LOS ANGELES - On Thursday, after three weeks of day-long budget meetings and exhaustive input from city departments and the public, the Los Angeles City Council approved an $8.6 billion balanced city budget for Fiscal Year 2015-2016, which begins July 1.
Posted on Aug 13, 2014
On Aug. 26, the City Council took the next step toward repairing our city’s broken sidewalks by voting to approve the recommendations that I made with Councilmember Joe Buscaino. As chairs of the Budget and Finance and Public Works committees, respectively, we have made it our mission to craft a comprehensive solution to LA’s sidewalk woes.
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