As the chair of the City Council's Budget and Finance Committee, Councilmember Krekorian oversees the $9.2 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.