Los Angeles officials are reeling from a financial crisis that has struck nearly a year into the coronavirus pandemic – prompting city administrators to find creative means to balance their budget. He said the city needs to know if any contracts prevent it from making deferred payments, accrue significant late fees or interest charges, or if a late payment would potentially harm a "local small business." Llewellyn's 47-page report highlighted the city’s inability to cover this year’s expenses, leaving a $750 million budget gap. California, once touted for its early success in preventing spread of the virus, has been reeling of late, with Los Angeles leading the nation in numbers coronavirus cases and deaths per capita. County officials have also reported nearly 18,000 deaths from the virus over the last year, far more than any other county, according to data collected by Johns Hopkins.

Source: Fox News February 06, 2021 21:07 UTC