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Employee costs drive L.A. deficits through 2018, official says

Costs for employee salaries, benefits and pensions will increase by $192 million, or more than 10 percent, the citys top budget official said.

By James Nash | Updated on April 17, 2014

April 17 (Bloomberg) — A rebounding Southern California economy will increase revenue to Los Angeles by 5.1 percent next year, though locked-in employee costs are growing even faster, City Administrative Officer Miguel Santana said.

In an analysis of Mayor Eric Garcetti’s budget proposal, Santana predicted that expenditures would exceed revenues through 2018, requiring the second-largest U.S. city to rely on one-time measures, such as transfers from a parking revenue fund, to balance its budget.

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