The City of Long Beach could run out of money in just three weeks, prompting proposals for service cuts and possible layoffs.

City Council rejected a $2.1 million bond proposal Tuesday night, money that could have replenished the city's coffers after compensating employees who retired of left the payroll.

Officials now say the city may not have enough money to pay its bills or make payroll for workers within three weeks.

Acting City Manager Michael Tangney says dramatic staffing cuts may be in store for workers, including the city's 17-member paid fire department.

The prospect of service cuts sparking outrage among members of the firefighters union.

City officials say they'll also be reviewing police department contracts, and weekend and night bus service will end by next week.

Councilman John Bendo says the situation is the result of years of fiscal mismanagement.

Bendo says a City Council meeting was scheduled Wednesday night to try and avert service cuts. But he says a few members and the acting city manager canceled at the last minute.

Where has all the money gone? Officials tell News 12 they're looking into it.

"We will get to the bottom of this, because the residents deserve better," says Councilwoman Anissa Moore.