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Legislative Auditor warns city faces about $160M spending deficit; recommends monthly budget-to-actual reporting
Summary
The Louisiana Legislative Auditor presented an analysis projecting a roughly $160 million general fund spending deficit for 2025 and urged budget amendments, improved revenue estimating and monthly budget-to-actual reporting to give council and administration timely data.
The Louisiana Legislative Auditor presented a budget-deficit analysis to the New Orleans City Council budget committee on Oct. 15 and estimated the consolidated general fund will end 2025 with roughly a $160 million spending deficit and an expected year-end fund balance near $46 million.
Mike Waguespack, presenting for the auditor's office, said the auditor used internal unaudited financial statements and city-provided information. He reported consolidated general fund revenues are projected at about $768 million for 2025 while expenditures are projected at roughly $928 million, producing an anticipated deficit of about $160 million for the year.
Why it matters: Waguespack told the committee that…
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