The Budget, Audit, and Board of Review Committee convened on May 19 to receive monthly budget reports from the mayor’s administration and approve several budget-related ordinances.
The meeting addressed steps taken by the Moreno Administration and the New Orleans City Council to stabilize city finances after inheriting a major budget crisis. The administrations identified revenue sources such as funds from the Caesars lease agreement, Municipal and Traffic Court, and the Assessor’s Office while preserving a $36 million savings fund. Additionally, the city secured a $125 million Revenue Anticipation Note to maintain payroll operations and reduced its 2026 budget by $73 million compared to spending levels in 2025.
Chief Administrative Officer Joe Giarrusso presented an overview of the city’s financial situation for the first quarter of 2026. He said that cost-containment measures included reducing overtime spending by nearly 49 percent, instituting a hiring freeze, consolidating positions, cutting travel costs, streamlining operations, and implementing a targeted furlough program that generated approximately $1.13 million in savings.
Giarrusso emphasized that one-time revenues alone will not resolve structural challenges facing New Orleans. He said that “the Administration plans to propose additional recurring revenue measures and operational efficiencies later this year,” while maintaining disciplined cash management practices aimed at restoring long-term fiscal sustainability.
The committee also voted on several pieces of legislation related to the city budget during this session.