New Orleans Mayor Helena Moreno's administration is still working to rescue the city from financial distress. While the city is still cash strapped, Moreno's chief deputy says the city's finances are looking better.
"I would have thought at this point, we'd be closer to $50 or $60 million (in the hole), and we're actually further ahead than I thought," city chief administrative officer Joe Giarrusso said to WWL's Tommy Tucker on Monday.
Giarrusso says right now, the city's coffers are short by about $10 million.
"We know that we're going to need about $100 million cash to get through the summer," Giarrusso said. "We have $90 million in the bank right now."
According to Giarrusso says, the city expects to bring in that $10 million--and more--over the next few months.
"We have money coming from the municipal and traffic court judges. That'll be about another $5 million pretty soon," Giarrusso said. "We have more reimbursements we're expecting. We'll be actually over $100 million when it's all said and done."
Giarrusso credits city officials in all departments for helping the city climb out of its fiscal pit.
"Because of the diligence of the council, the mayor, (and) the departments in putting that money aside and sequestering it, we're going to be able to get through the summer," Giarrusso said. "It's important to me not to worry and hand-wring about where money is going to come from to make payroll or pay vendors through the summer months."
