Mayor Eric Garcetti gave his State of the City address yesterday that included his purposed budget for the 2017-2018 fiscal year. The budget is about $9.2 billion and Mayor Garcetti stated that homelessness was his top priority.
The Los Angeles Times reports:
The $9.2-billion spending plan also lays out additional money to repair the city’s most damaged streets, adds 75 firefighters and dramatically expands funding for the city’s Vision Zero program, which seeks to end traffic fatalities. Despite the optimistic messages, Garcetti argued city leaders need to hold the line on spending. To balance the budget this year, the mayor relied on $103 million in spending reductions, much of it achieved by leaving city employee positions vacant.
Most of the budget comes from property taxes, which makes up 22.4 percent of the budget. Mayor Garcetti plans on setting aside $176 million to help the homeless, with $122.4 million of those funds being planned for permanent housing.
Hopefully the city stays within budget and uses the money efficiently.
Read the full Article here