Posted: February 3rd, 2006

An audit by Los Angeles City Controller Laura Chick has found millions of unused public dollars earmarked for transportation. City Controller Laura Chick is calling for, “An effective integrated strategic plan that links together all of these valuable resources to keep the people of Los Angles moving.” The Los Angeles Department of Transportation oversees 81 special revenue funds with a total cash balance of $365 million (as of June 30, 2005). “The City has created special traffic mitigation funds, through the collection of developer fees, to build projects to ease traffic in the most congested areas. My audit found that several of these funds, totaling over $5 million, are just sitting there, gathering dust. There is something very wrong with this picture,” said Chick.