City controller says LA may not be able to pay bills
The L.A. City Council and Board of Water and Power commissioners are meeting separately today to discuss their ongoing dispute over a proposed DWP rate hike.
(Audio: City Controller Wendy Greuel says the loss of the DWP money means she won’t be able to pay L.A.’s bills next month unless the City Council dips into the reserve fund. She spoke with KPCC’s Frank Stoltze.)
DWP General Manager David Freeman says the agency cannot transfer $73 million to the city’s general fund.
Freeman says the City Council’s decision to block a power rate increase means such a transfer could threaten the DWP’s credit rating.