Controller Wants City Council To Stop Hoarding Millions
City Controller Wendy Greuel plans to release an audit Wednesday showing that the City Council has reaped $25 million for its discretionary funds from the sale of city property and from oil pipeline franchise fees collected over the last 12 years. As the city faces a
$400 $200 million-plus budget deficit she wants to cut off future diversions of property sale proceeds to the council's slush accounts.
"The controller will call on the City Council and mayor to immediately move to permanently change this policy so that all funds go into the general fund to help reduce the City's deficit," states a release from Greuel's office.
This fiscal year alone the general fund could reap $7 million if the council changed its policy that puts 50 percent of property sale proceeds into council members' discretionary accounts. Greuel will make her case at 9:30 a.m. Wednesday at City Hall.
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Los Angeles, delivered to your inbox Monday through Friday.