Posted by Ron Galperin on August 22, 2016 at 12:05 PM
Galperin Initiative to Make City’s Financials Easier to Understand Earns Recognition From Finance Officers Assoc.
Los Angeles – The Government Finance Officers Association (GFOA) recognized the City of Los Angeles with awards for two financial reports prepared by the office of City Controller Ron Galperin.
Posted by Ron Galperin on June 29, 2016 at 1:07 PM
Audit of Prop O Clean Water Program Finds Good Projects But Poor Financial Practices; Galperin IDs New Bond Issuance Policies
View the Audit Online: http://www.lacontroller.org/audit_of_prop_o
Los Angeles – When City Controller Ron Galperin began an audit of Prop O — the 2004 measure that financed stormwater cleanup — he expected to delve into a world of catch basins, storm drains and wetlands. What he didn’t expect was to discover that L.A. was making millions of dollars in unnecessary interest payments on its bonds.
Yet once the audit was underway, Galperin and his auditors noticed large balances in the accounts associated with Prop O. The Controller looked for an explanation and found out the City regularly issued bonds for Prop O’s long-term construction projects long before the bills came due. In many cases, bonds were issued long before contracts were even awarded. The problem? Even though the borrowed money was invested, those investments typically yielded rates of return 2.0% to 2.5% lower than the rates the City paid out to its bondholders.
“No savvy investor would borrow money and then leave it sitting dormant in a bank account. And yet, that’s exactly what the City has been doing,” said Controller Galperin.
Posted by Ron Galperin on June 12, 2016 at 11:57 AM
Los Angeles -- City Controller Ron Galperin issued the following statement in response to the shootings that killed at least 50 and wounded at least 53 in an Orlando nightclub early this morning.
“This morning, the City of Los Angeles grieves for the victims of the horrible act of gun violence committed in Orlando. Our hearts go out to victims of this terrible act of terror and their families as they cope with this senseless tragedy.
“This shooting appears to have been motivated by homophobia. As such, it is a reminder that homophobia is dangerous and can be deadly. Today I will attend the L.A. Pride Parade in West Hollywood. The parade is a chance for the LGBT community to come together in the name of love--love for one another and for ourselves. Today we extend that love to our brothers and sisters in Orlando and march in solidarity with them.”
Los Angeles City Controller Ron Galperin is the first openly gay official to be elected to citywide office in Los Angeles.
Controller Galperin will be available for further comment at the L.A. Pride Parade in West Hollywood.
Posted by Christopher Benedetto on April 19, 2016 at 1:48 PM
L.A. City Controller’s Audit: Increase Police Deployment by Filling 458 LAPD Jobs With Civilian Employees
Los Angeles – City Controller Ron Galperin outlined a plan to hire civilian employees to do 458 Police Department jobs that do not require specialized officer training or expertise–a move that would free more officers to fight crime more directly.
According to an audit released today by Galperin’s office, 621 positions that involve tasks such as managing the police department’s social media accounts, maintaining equipment rooms and tracking the flow of documents could be handed over to civilian employees, who, on average, earn $44,000 per year less in wages and benefits than sworn officers. 458 of these positions--as of February 2016, when auditors completed their fieldwork--are currently being performed by able-bodied police officers. The remainder are largely being done by officers on permanent limited duty because of injuries, disabilities or administrative directives.
Posted by Ron Galperin on April 14, 2016 at 11:22 AM
Los Angeles – Which neighborhood’s residents have the longest morning commutes? Which residential area has the highest vacancy rate? Which district has the oldest Angelenos? How about the highest and lowest incomes? And where in the City are unemployed women most likely to live?
The answers to these questions and many more are now available online on EconomyPanel, a new online dashboard launched today by City Controller Ron Galperin. The site enables residents, businesses, non-profits and academics to explore economic and demographic information about the City--broken down by council district.
Posted by Christopher Benedetto on March 15, 2016 at 2:45 PM
Los Angeles – Angelenos can now track real-time noise levels at LAX -- along with airplane emissions, flight delays, traffic and airport spending -- through an online dashboard that City Controller Ron Galperin released today. The dashboard accompanies the Industrial, Economic and Administrative Survey (IEA) of L.A. World Airports (LAWA), which the Controller’s office released this month.
Posted by Christopher Benedetto on March 07, 2016 at 1:12 PM
Los Angeles - L.A. World Airports (LAWA), the City-owned entity that operates LAX, is a major economic engine, contributing an estimated $2.6 billion to the regional economy and 360,000 jobs to Southern California. But LAWA still has significant work to do to address impending traffic jams in and around the terminals, to upgrade passenger experiences, and to improve airport business practices— including a troubling dearth of bidders on airport contracts— according to a report issued by Los Angeles City Controller Ron Galperin.
Posted by Christopher Benedetto on March 01, 2016 at 11:35 AM
LOS ANGELES – Controller Ron Galperin released two reports detailing the state of the City’s finances: The Financial Forecast Report, in which analysts in the Controller’s office make financial projections for the current and coming year; and the Comprehensive Annual Financial Report (CAFR), itemizing the City’s revenues, expenditures, assets and liabilities for fiscal year 2014-15 (July 1, 2014 - June 30, 2015). This year’s CAFR also details the liabilities associated with employee and retiree pensions.
Posted by Christopher Benedetto on January 27, 2016 at 12:08 PM
Los Angeles – City Controller Ron Galperin outlined specific, technologically sophisticated ways for Los Angeles to modernize the way the City stocks its $30 million inventory of goods.
Posted by Christopher Benedetto on January 20, 2016 at 1:47 PM
Los Angeles – City Controller Ron Galperin will present the findings of the 2015 Los Angeles DWP Industrial, Economic and Administrative Survey (IEA) to the City Council’s Energy and Environment Committee today at 3PM.