October 29, 2025 | From City of New Orleans
CITY OF NEW ORLEANS TO USE RESERVE FUNDS AND REVENUE COLLECTIONS FOR CITY OPERATIONS
NEW ORLEANS — The City of New Orleans issued the following statement on today:
Mayor LaToya Cantrell, CAO Joe Threat, and Director of Finance Romy Samuel presented information to the City Council Budget Chairman and City Council members and stated that the City has a demonstrated track record of working through challenging financial issues. City officials stated that they do have the option to use reserve funds and revenue collections to meet payroll and continue City services through the end of this calendar year.
The City Administration and City Council were in support of a unified approach to secure bond approval for a $125 million gap loan for the City of New Orleans.
This afternoon, the City Council Budget Chairman informed CAO Joe Threat that the City Council would not be moving forward with the State Bond Commission meetings scheduled for today and Thursday.
The CAO’s Office is now working with the Department of Finance and collaborating with the City Council to use reserve funds and revenue collections to meet City obligations and keep City government operating.
Our City employees are our most valuable resource, and Mayor Cantrell and CAO Threat thank them for their continued dedication to serving the people of New Orleans.
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