Monthly Budget Report
Chief Administrative Officer (CAO) Joe Giarrusso provided a monthly budget report, detailing the City’s cash position, bond financing, audit status, and long-term fiscal outlook. The Administration reported that the City has received $119 million in Cash Management Fund deposits and maintains $65.3 million in reserves to support cash flow needs.
The City successfully issued its 2026 Series A and B Public Improvement Bonds, marking the first issuance authorized by voters in November 2025. The sale generated $146,860,000 for drainage and infrastructure projects and $30,000,000 for affordable housing initiatives. The transaction also produced a $7,000,000 premium, which will benefit Orleans Parish schools.
Funds from the Caesars lease renegotiation are in an interest-bearing account. By June 11, they earned over $225,277.09 in interest, offsetting revenue lost from the lump-sum payment. The Finance Department is reviewing updates to the City’s investment policy.
Additionally, the Administration reported that the 2025 annual audit remains on schedule for submission by June 30, 2026. Giarrusso noted the audit will be shared with the City Council immediately upon submission and is expected to provide a clearer picture of the City’s 2025 fiscal crisis and year-end financial position.
Looking ahead, the Administration stated that additional revenue measures are needed for a sustainable 2027 budget. Although spending cuts and revenue increases have been made, the 2026 budget depends on up to $100 million in one-time revenue that will not be available next year. Therefore, new recurring revenues will be required to sustain core City services.
To view the full presentation, click here.
Committee Reviews Budget-related Legislation
The committee voted on several pieces of legislation relating to the city budget.
See a full list of the legislation the committee recommended for approval below:
- Ordinance No. 35,457: This Ordinance amends and re-ordain Ordinance No. 30,532 M.C.S., entitled “An Ordinance Providing a Capital Budget for the Year 2026”, to effect the following change to the 2026 Capital Budget: to de-appropriate funds from the Department of Property Management, the Department of Public Works, the New Orleans Fire Department, and the New Orleans Police Department; to appropriate funds to the Chief Administrative Office, the Department of Property Management, the Department of Public Works, the New Orleans Fire Department, the New Orleans Police Department, the New Orleans Recreation Commission, and the Office of Sustainability.
- Ordinance Nos. 35,458 and 35,459: These Ordinances amend Ordinance Nos. 30530 and 30531 M.C.S., as amended, entitled “An Ordinance Providing an Operating Budget of Revenues and Expenditures for the City of New Orleans for the Year 2026”, to appropriate Private Grant funds to the Health Department for the Packard Foundation – Family Connects Visiting Home Program.
- Ordinance Nos. 35,460 and 35,461: These Ordinances amend Ordinance Nos. 30530 and 30531 M.C.S., as amended, entitled “An Ordinance Providing an Operating Budget of Revenues and Expenditures for the City of New Orleans for the Year 2026”, to appropriate Capital Outlay funds to the City of New Orleans for the Sewerage and Water Board Power Plant.
- Ordinance No. 35,462: This Ordinance amends Ordinance No. 30531 M.C.S., as amended, entitled “An Ordinance Providing an Operating Budget of Expenditures for the City of New Orleans for the Year 2026”, to move funds from 200 – Other Operating to 100 – Personal Services within the Office of Inspector General for personnel expenses.
- Ordinance Nos. 35,463 and 35,464: These Ordinances amend Ordinance Nos. 30530 and 30531 M.C.S., as amended, entitled “An Ordinance Providing an Operating Budget of Revenues and Expenditures for the City of New Orleans for the Year 2026”, to appropriate funds to the New Orleans Fire Department for Louisiana State Urban Search and Rescue Task Force 1 (TF1).
- Ordinance Nos. 35,465 and 35,466: These Ordinances amend Ordinance Nos. 30530 and 30531 M.C.S., as amended, entitled “An Ordinance Providing an Operating Budget of Revenues and Expenditures for the City of New Orleans for the Year 2026”, to appropriate grant funds to the Office of Workforce Development for the Strengthening Community Colleges Training Program.
- Ordinance No. 35,467: These Ordinances amend Ordinance Nos. 30530 and 30531 M.C.S., as amended, entitled “An Ordinance Providing an Operating Budget of Revenues and Expenditures for the City of New Orleans for the Year 2026”, to appropriate private grant funds to the Health Department from the Tulsa Community Foundation for operating expenses.
- Ordinances No. 35,469 and 35,470: These Ordinances amend Ordinance Nos. 30,530 and 30,531 M.C.S., as amended, entitled “An Ordinance providing an Operating Budget of Revenues and Expenditures for the City of New Orleans for the Year 2026” to appropriate funds to the City Council for Wisner litigation and general litigation costs incurred by Barrasso Usdin Kupperman Freeman & Sarver, L.L.C.
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