At tomorrow night’s City Council meeting, the Council is expected to “declare a fiscal emergency” (Agenda, Item 4s, direct link) and give City Manager Oliver Chi to “take all necessary steps to address, alleviate, and mitigate this emergency.
The resolution notes that the city’s budget has yet to fully recover from the COVID-19 pandemic as the tourism industry’s rebound has been slower than expected and lawsuits have drained city coffers. Reserves are at only 61% of the level they were before the pandemic.
Because it can be difficult to navigate the city council website for resolutions, we downloaded this one and you can read it here. The budget crisis has drawn significant attention since the resolution was put on the website last week, and you can read more at the Daily Press, Los Angeles Times, LAist, and more.
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