Thursday, Mayor Villaraigosa said the new budget closes a $336 million deficit. In a statement he called the funding plan a "fiscally responsible budget that reinstates this city's commitment to core services."
The new budget includes cash to re-open libraries on Mondays and to fill more potholes. And it avoids the need for layoffs and furloughs, both of which have been implemented in previous years.
However it also relies on millions of dollars in concessions by city employees. The budget also slashes police overtime pay and scrapes some fire department teams. It calls for several small fire teams to be redeployed, though no fire personnel were laid off.
Other cuts in the budget unanimously adopted by the City Council in May are a $19-million reduction to the Recreation and Parks Department and a 10 percent cut to homeless programs.
The Associated Press contributed to this story