The city of L.A. in recent years has struggled to come up with cash to fill potholes, expand the police department, and recruit firefighters.
But L.A. City Controller Wendy Greuel says Los Angeles bureaucrats, in fact, have been sitting on millions that are loafing in “special revenue funds.”
Yeah. So she's going to expose the funds:
Greuel said today that she's going to start rolling out the (probably embarrassing?) balances of about 500 of these funds via her city website.
Her office states that the funds “account for hundreds of millions of dollars of City expenditures.”
Though many of these funds have specific and, ostensibly legit uses, she says that taxpayers should know that this cash is often just sitting there:
The public deserves to know how all funds are being used as well as be assured that there are not any inappropriate transactions or stockpiling of funds occurring at a time when our City needs immediate economic stimulus.
Greuel says her past audits have already uncovered $130 million in “wasteful” and sometimes “fraudulent” spending at City Hall.
Oh, and did we mention, she's running for mayor?