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The City Administrative Officer reported that Los Angeles’s adopted FY 2026-27 budget is projected to have expenditures exceed revenues by $166 million in FY 2027-28, while several financial policy targets are not met.
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The budget begins with a Reserve Fund equal to 6.01% of General Fund revenues and a $200 million Budget Stabilization Fund balance. However, cumulative reserves are 8.91%, below the 10% policy target, and capital and technology investments are 1.3%, below the 1.5% target. The committee discussed possible steps including longer-term budgeting, liability reduction, stronger fiscal transparency, and additional revenue or auditing efforts.
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