LA28 Olympics Organizers Face Scrutiny Over Inadequate Financial Disclosures
Organizers of the 2028 Summer Olympics in Los Angeles, known as LA28, are under increasing scrutiny for what Los Angeles City Controller Kenneth Mejia describes as inadequate financial disclosures. Mejia has demanded more detailed financial information from LA28, including statements comparing revenue and spending forecasts to actual performance, bank statements for the contingency fund, annual financial forecasts, and a more granular breakdown of budget categories. A review by The Times of five years of annual reports from LA28 indicates that the organization has at times curtailed reporting requirements outlined in its 2021 contract with the city. These reports have not consistently detailed progress on venues, contracts exceeding $1 million, or comprehensive insurance policy information. LA28 maintains that it has provided all required records and that its previous annual reports were accepted by the city, suggesting some information was provided directly to city officials rather than in public reports.
