Mayor's budget rejected

Questioning the revenue projections in Mayor Antonio Villaraigosa's proposed $6.7 billion budget, a city panel on Tuesday rejected the spending plan and asked for more details. Daily News.

The Budget and Finance Committee refused to open budget hearings until it has more solid revenue numbers to work with. The committee raised special concern about the revenue the mayor's office expects from parking meters next year and the level of reserves it expects to reach.

"There are proposals for $53 million (in revenue from parking meters to cover) operational costs and more than $70 million for the reserve fund that we don't know will be there," said Councilman Bernard Parks, chairman of the committee. "I do not want another year where we budget week to week, hour to hour."