Analysis Of Los Angeles

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Los Angeles is one of the most populous cities in the United States, and a large city requires a large government presiding over it. To be able to handle the large infrastructure that Los Angeles requires, L.A needs a great financial system in place to make sure the tax money that citizens of L.A is being used in a way that best serves the entire community. L.A is a city that has had budget deficits consistently over the last decade, reaching as high as 400 million dollars in 2008. According to the financial statements for the city of Los Angeles in 2016, the city of L.A planned on undergoing major infrastructure initiatives such as creating a biogas-fueled cogeneration plant, and improving the port of Los angeles. Also, L.A hopes to…show more content…
According to reports, L.A was entering into a budget deficit in the year 2015 of 165.2 million dollars for the fiscal year of 2016, which would continue into the 2017, 2018, and 2019 fiscal years, at least. Part of the problem with a municipality as large as L.A is that it requires such a large amount of money to sustain its citizens, so they are consistently to expected to spend more money than they bring in. Although this number does seem high, it has dramatically decreased in comparison to 2008 budget deficits, and their is room to be satisfied with these numbers. Poverty, however, continues to be a major issue in Los Angeles, having one of the highest rate of poverty at 18% in the Major united states city. THerefore, they need to do a better job of using their budget to account for the amount of homeless people living within the city and implementing more initiatives to give families better paying jobs so they are not as reliant on the government to survive. The City of Los Angeles has 6 business-type activities, which follow accounting and financial reporting entities that are similar to that of commercial business entities. The 6 activities are Airports, Harbor, Power, Water, Sewer, and Convention Center Services. Major capital improvements of the airport included a 228.3 million dollar improvements on security upgrades at the Tom Bradley International Terminal, 118.2
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