Los Angeles officials declared victory last week after the City Council approved an agreement with the Department of Water and Power workers’ union for a financial audit of two secretive trusts that have been sucking in tens of millions of dollars in ratepayer money. But those officials jumped the gun. This is not a triumph for the public’s right to know. It leaves the fight for transparency ongoing.

The battle erupted more than a year ago when it was revealed that nobody could say — or would say — what became of $40 million that went toward the two entities, ostensibly devoted to employee training and safety, jointly run by DWP management and the International Brotherhood of Electrical Workers Local 18.

Converging in this one issue was almost everything L.A. residents hate about the DWP: The mystery of it all. The suspicion that ratepayer cash was being wasted on a union slush fund. The thought of how all that money could instead be used to improve utility service and upgrade infrastructure. The obstinate union. Ineffectual city officials.

Mayor Eric Garcetti, City Attorney Mike Feuer and City Controller Ron Galperin actually deserve credit for saying enough is enough and fighting union chief Brian D’Arcy in court while exerting political pressure, confident the public and justice were on their side.

But when D’Arcy decided to compromise, the city settled for less than it should have. If this was the best deal it could negotiate, well, that doesn’t mean Angelenos should be satisfied.

The deal calls for the Joint Training and Safety Institutes to open their books and undergo an audit led by Galperin. If all of the money turns out to have been spent properly, the city will make its nearly $4 million annual payment to the trusts, a payment Galperin has been withholding.

But this is not the “unfettered” access the public was promised. Unfettered would mean an audit going back more than five years. Unfettered would mean city officials could copy and show the records to the press and public.

The agreement allows for none of that. Instead, ratepayers, who were being told by the union, “Trust us,” now are being told by city officials, “Trust us.”

This isn’t the only way the deal falls short, but it’s the most maddening.

The mantra throughout this outrageous affair has been that ratepayers have the right to see how their money is spent. If city officials won’t guarantee that, then the public and the press must continue to fight for it.

ABOUT THIS SERIES

The Los Angeles News Group has undertaken a yearlong project to critique, demystify and help to fix the DWP. We have called on DWP customers to lend their voices to the project. Tell city officials, union leaders and judges what you want. Letters to the editor and other comments are welcome by email at opinion@langnews.com. If you missed earlier installments, go to dailynews.com/opinion.