Chick calls for tightening on spending

City Controller Laura Chick called Wednesday for major belt-tightening at City Hall, saying a year-end spending spree had drained reserve funds and left Los Angeles in precarious financial shape. Daily News.

In her report on the fiscal year ended June 30, Chick said the city's contingency fund had been depleted; its emergency fund is $11 million short of the $122 million required under city policy; and its reserve fund is $90 million short of expectations.