Los Angeles -- L.A. Controller Ron Galperin today released the revenue forecast for fiscal years 2017-18 and 2018-19, highlighting continued positive growth in key revenue sources -- but even greater anticipated growth in expenditures.
The annual Revenue Forecast Report, which you can read at lacontroller.org/revenue, provides updated estimates of current year General Fund and special fund revenues while it also projects those revenues for the following year. This information is used as the basis for decision-making in the budget process.
The current revenue forcecast found:
“The good news is that our revenues continue to grow on the strength of our local economy, ” L.A. Controller Ron Galperin said. “However, I am concerned that overall economic conditions in key sectors, such as L.A.’s housing market, indicate potentially slower revenue growth. Even with anticipated growth in many areas, I continue to urge caution to ensure the economic vitality of Los Angeles.”
The report and an online interactive tool for exploring the forecast, with 10 years of data including exhibits and schedules is found at lacontroller.org/revenue. Open data for all City financials is available online at ControllerData.LACity.org.