Guess it ain't so bad afterall

"Have you seen the 4th Financial Status Report that was released by the CAO on 3/12/08?

http://cityclerk.lacity.org/CFI/DisplayOnlineDocument.cfm?SRT=D1&cfnum=07-0600-S82

The City's budget deficit has been reduced to approximately $12.44 million for the current fiscal year (see page 1, second paragraph).

Albeit this is due to various budget balancing recommendations throughout the year that Council and Mayor have adopted in order to reduce the deficit (like transferring from one account to another, etc.).

However, the bottom line remains....the deficit that they projected at mid-year (January/February) of $154.9 million has now shrunk to $12.44 million in two months time. (Amazing!)

This is what they do ... get everyone riled up and worried about layoffs so that we will agree to anything (like a renegotiation of the raises recently approved) ... and then end the year on budget or with a surplus.

Let's see if the $400-$500 million projected deficit for next fiscal year will be as 'accurate' as the estimates for the current fiscal year.

Maybe at the yard sale where we sell Randi's "old" office furniture, we could sell the plasma TV that was recently installed in the front reception area for non-existent visitors that was purchased in this fiscal year...remember, the same fiscal year that we are projecting such a deficit in ITA. The only one reaping any benefit from the TV is the receptionists".

One has to wonder will the Mini Mayor hold a press conference to announce these exciting developments? Highly unlikely.

Rumble away!