At this morning’s City Council Budget Committee meeting, Chief Administrative Officer Andy Kopplin announced some good news about the City’s budget. According to the City’s Revenue Estimating Conference, the City raised $19 million more in revenue last year than budgeted. This increase was mostly due an almost 10% increase in sales tax revenue in 2013 from 2012. With the better than expected collections, the City ended 2013 with an $8.6 million budget surplus, the first of the Landrieu administration.Of course the consent decrees and the firefighters' pension could still bring about the FISCAL DOOMSDAY the mayor keeps talking about. On the other hand, maybe they won't.
While these numbers are not audited, Kopplin says that he has spoken to the auditor and is confident in the figures. Kopplin said that the better than expected sale tax revenues in 2013, could have ripple effects for this year’s budget as this will likely result in an increase in revenue projections for 2014. Kopplin was not prepared to revise the 2014 revenue projection, and said that the Revenue Estimating Conference would consider that at its next meeting in August.
Wednesday, June 04, 2014
Actually it's fine
So it turns out the city ran a budget surplus for 2013.