Friday, September 26, 2014

Found more money

We're rich!
New Orleans' economic outlook took on a rosy hue Friday as city economist James Husserl unveiled his latest predictions: The public fisc stands to gain $14.6 million more in revenue this year than the bean counters had predicted during budget debates last fall.

Husserl told the Revenue Estimating Conference that the city's $505.4 million general fund could grow to $520 million by the end of 2014 and possibly reach $536.9 million through 2015, an educated guess based mostly on the steady increase in sales tax collections.
The mayor's 2015 budget proposal should be out soon. According to this article, he's already planning to spend a lot of this extra revenue on the OPP consent decree and also, finally, firefighters' pensions.. caving a bit given that he just lost in court over that issue again

Should be interesting to see what else happens.

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