Controller Releases City’s Annual Financial Report, Warns of Rising Expenses

by Controller's Office on January 30, 2020
Street in downtown Los Angeles

L.A. Controller Ron Galperin released the City’s Annual Financial Report for fiscal year 2019, which details L.A.’s finances and raises a number of issues to watch. The 400+ page report is also available in a brief and accessible online version that contains a data story, graphs and charts all of which illustrate how taxpayer dollars are spent by the City. In FY19, total City revenues increased 13.7 percent to $18.2 billion, due to money coming in from the City’s airports, harbor and water and power utility, along with strong growth in property tax, sales tax and accrued grant revenues. Overall expenses went up by 7.5 percent to $15.1 billion, largely from higher salaries and benefits.

In keeping with his commitment to transparency and accountability, Galperin also posted online more than 60 interactive charts and graphs that measure the quality of City services in FY19 versus previous years. Check out all the City metrics and read the CAFR at lacontroller.org/cafr2019.
Follow L.A. Controller Ron Galperin at @LAController on TwitterFacebook and Instagram.