Just as credit bureaus, like Equifax and Experian, give you reports to rate your personal creditworthiness, all cities get rated too. And our city's credit rating just went up because Los Angeles is on the right track.

 

The credit rating agency's revision of the city's outlook is recognition of the city's fiscal discipline and prudent budgeting over the past few years. LA has worked to get its financial house in order, while continuing to deliver essential community services.

 

"The positive outlook reflects our view of the city's improved economic metrics, including unemployment, which is below 10% and continues to fall, and the city's improving financial position," said Standard & Poor's credit analyst Jen Hansen.

 

As chair of the Budget and Finance Committee, Councilmember Krekorian has led the effort to produce a balanced budget by championing fiscally responsible measures, while also reflecting residents' service priorities. In the past few years, LA's projected deficit has shrunk by a whopping $800 million. Getting there wasn't an easy task--there were many sacrifices and tough reforms along the way.

 

Now, the city is well on its way to eliminating its structural deficit altogether, with a projected surplus coming in just four years.

 

This year's city budget took a step in that direction by boosting the city's rainy day fund to the highest level it has ever been. The City Council also prioritized increasing emergency services and allocating more money toward sidewalk repair, neighborhood beatification and senior services.

 

"I'm thrilled that financial experts are recognizing all of our hard work to get the city's finances on track. I expect that we'll make even more gains next year and be able to go even further toward restoring and expanding neighborhood services," said Councilmember Krekorian.

NORTH HOLLYWOOD - On the 13th anniversary of Sept. 11, Councilmember Krekorian, the Midtown North Hollywood Neighborhood Council and the L.A. Beautification Team are hosting a remembrance ceremony in NoHo. Here are the details:

9/11 Remembrance Ceremony
Thursday, Sept. 11, 6:30 p.m.
North Hollywood Park South
Magnolia and Tujunga

The event will commemorate the lives of those who were lost on that terrible day, including a tribute to the bravery of first responders who risk their own safety and lives to save others. All community members are invited to attend.

"It's so important to continue to remember Sept. 11. Not only to remember the tragedy and the thousands of lives needlessly lost, but to channel the spirit of determination and hope that arose from the ashes in its aftermath," Councilmember Krekorian said.

For more information, call our office: (818) 755-7676. 

Congratulations to Cielo Castro on her appointment to the Board of Fire and Police Pension Commissioners. | Photo: CD2

Councilmember Krekorian joined Nick Wyman, President of Actors' Equity Association (left) and Doug Carfrae, AEA's Western Regional VP (right) for the grand opening of the AEA's new Western Region headquarters, located in North Hollywood. | Photo: CD2

Councilmember Krekorian recognized Mina Saffarian (right) and Kevork Kurdoghlian (left) in City Hall for their great work as CD2 interns. | Photo: CD2