City mishandling grants

The city of Los Angeles is losing millions of dollars each year by mismanaging state and federal grants, according to an audit released Tuesday. Kerry Cavanaugh in the Daily News.

While the city receives about $450 million in grants each year, there is little central oversight and coordination of which grants the city applies for and how the city manages the money it receives.

"The system is broken. It's bogged down in bureaucratic, outdated rules and procedures," Controller said.