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Greuel Reveals Balances in City Special Revenue Funds

Approximately 500 Funds Hold Millions of Dollars according to Wendy Greuel report.

As part of her ongoing campaign to make Los Angeles a national model of transparency and accountability in government, l will be posting the balances of approximately 500 active special revenue funds, which account for hundreds of millions of dollars of City expenditures. The funds are designated for a wide array of specific purposes.

Greuel is currently in the process of auditing some of the highest risk special revenue funds to ensure full transparency and accountability of every dollar within these funds. Regardless of the purpose and type of fund, City departments need to be held accountable for how these funds are derived, how they are spent, and the rationale for maintaining given cash balance levels.

“The audits that I am performing of these special revenue funds are more important than ever, given the recent challenges facing the State.” said Greuel. “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 will post information for each of these funds on her website,www.controller.lacity.org.

 

“Similar to my posting of City salaries following the scandal in the City of Bell, I am furthering my commitment of making information easily available for City residents and businesses to see their dollars at work,” said Greuel.

 

Controller Greuel has conducted more than 60 audits and uncovered more than $130 million that the City has lost to wasteful spending, fraudulent activity, and abuse of city resources.

 

For more information, please visit the Controller’s website at: www.controller.lacity.org.

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