City may need to borrow more

Los Angeles officials received more grim financial news Tuesday as the City Council grappled with the pain of having to downsize some of its most popular programs. Daily News.

City Controller Wendy Greuel delivered the harsh news, with a forecast that revenues will be down $141 million next year, primarily due to a drop in property taxes that will force the city to borrow more money.

"The mayor and City Council cannot - and should not - count on an increase in tax revenue to help balance the city's budget next year," Greuel said.