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Rare Transportation Funding Surplus

Posted on May 15, 2013 by Ryan Holman Posted in LA County, Metro
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City officials also identified $42.6 million in transportation money collected over 17 years that remained unspent. While it will undoubtedly help the city by giving a little breathing room for its next budget, officials are flummoxed as to how it happened in the first place. Not knowing about the lost cash, the city made transfers from the city general fund to make up the difference. These funds in turn were used to fill the gap and pay for employee health benefits and pensions. Meanwhile, Metro and Kiewit are discussing and employing solutions on some of the issues that have affected the Sepulveda Pass HOV Lane project, even as the two sort out the blame for project delays.

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