LA WATCHDOG - The Los Angeles 100% Renewable Energy Study (“LA100”) explored multiple pathways for the Department of Water and Power to achieve a 100% clean energy future by 2045.
LA WATCHDOG - The 2021 Assessment Roll for the 792,559 properties in the City of Los Angeles rose to a record $724 billion, an increase of $28 billion, or 4%, from 2020.
LA WATCHDOG-The botched rollout of the new DWP billing system has already cost Ratepayers a bundle, whether through billing errors and the massive cost overruns on the development of the Customer Information System.
LA WATCHDOG-Has the City Council learned anything about transparency over the past year?
LA WATCHDOG-As part of the Department of Water and Power’s study to achieve a carbon free future by 2045, it is proposing that a third of the City’s single family residences install rooftop solar systems at a total cost of $3 to $5 billion, or $15,000 to $25,000 for each of the 200,000 homes.
LA WATCHDOG-Reliable sources in Washington are saying that the Biden administration is having second thoughts about appointing Los Angeles Mayor Eric Garcetti to be the country’s Ambassador to India, a country of increasing strategic importance to the United States in its efforts to curtail the political and economic influence of the People’s Republic of China.
LA WATCHDOG-The City Council and its lack of financial discipline have once again created a Structural Deficit, where the increase in spending is greater than the growth of tax revenues.
LA WATCHDOG-One of Mayor Eric Garcetti’s Back to Basic Priorities was for the City to “Live Within Its Financial Means.”
LA WATCHDOG--The City’s Reserve Fund is intended to be used for emergencies and unforeseen expenditures, such as those created by the recent pandemic, an earthquake, or a wildfire.
LA WATCHDOG--The Economic Development and Jobs Committee of the Los Angeles City Council authorized the Chief Legislative Analyst to release a Request for Proposal (“RFP”) seeking consulting services needed to conduct policy, fiscal, and economic analyses related to the formation of a public bank serving the City of Los Angeles.
LA WATCHDOG--The infusion of $1.35 billion from Washington into the City’s coffers has set off a feeding frenzy among the members of the City Council which threatens the long term financial integrity of the City.
LA WATCHDOG--The Mayor’s Proposed Budget calls for an “investment” of $24 million in a Universal Basic Income (“UBI”) pilot program that will provide 2,000 low income Angelenos with $1,000 a month in unrestricted funds for one year, a total of $12,000 for each participant.
LA WATCHDOG-While the City is anticipating the cash infusion of $1.35 billion from the Federal government, the timing is uncertain, creating significant cash flow issues that must be addressed, especially in the upcoming fiscal year.
LA WATCHDOG--The infusion of $1.35 billion of cash to the City’s coffers pursuant to Washington’s American Rescue Plan will allow the City to stabilize its finances, eliminate budget deficits, fund numerous one time projects, and establish a sizeable Reserve Fund.
LA WATCHDOG--The Department of Water and Power is planning a series of outreach meetings with Ratepayers and other interested parties to discuss the Los Angeles 100% Renewable Energy Study (“LA100”) that outlines various plans that will provide City residents and businesses with reliable 100% clean renewable energy by 2045.