Page 60 - 2020-21 Budget Summary

COVID-19 REVENUE RECOVERY

Revenue losses experienced by local governments as a result of COVID-19 are significant. Revenue
growth for the City of Los Angeles has drastically slowed, which has resulted in significant budgetary
reductions. In the event that City revenues exceed budgeted projections, or Federal or State funds are

provided to compensate for revenue losses, the following items shall be prioritized for funding.

1. Repayment of any Reserve Fund or Special Fund loans associated with the COVID-19
response

2. Restoration of the Reserve Fund to 5% of General Fund revenues

3. Cancelation of civilian furloughs

4. Restoration of the Unappropriated Balance - Liabilities Account

5. One-time capital or other expenditures not requiring additional position authorities or ongoing
obligations

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