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Article: New Orleans Mayor Ray Nagin: New budget projections show $68M deficit
- Article from:
- New Orleans CityBusiness
- Article date:
- October 6, 2009
CopyrightCopyright 2009 New Orleans CityBusiness. Provided by ProQuest LLC. (Hide copyright information)
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In August, the chief economist for the city of New Orleans
projected the city would face a $43 million budget deficit in 2010.
Now Mayor Ray Nagin is saying the gap will be closer to $68 million
due to lower than expected tax collections and unforeseen expenses.
In order to balance the budget, Nagin said an extension of the
city's hiring freeze is being considered along with city worker
furloughs.
The mayor issued a statement this afternoon detailing areas where
unplanned spending led to the higher budget shortfall projections.
The list include pension increases, additional workers' compensation
costs, court ordered salary increases for firefighters and the
accelerated use of the city's ...