We now know that New Orleans is on the hook for $160 million more this year than it had put in its budget. But it may not be as bad as it sounds, even if it is still a big knot the city is going to have to untangle.
While the city’s expenses are running $160 million more than they budgeted, New Orleans has a surplus.
“So the surplus was 205 (million), so assuming that we spent everything out of the surplus, then what you would be left with is 45,” said New Orleans City Council Budget Committee Chairman Joe Giarrusso. “That’s exactly why we’re trying to look at everything possible to keep the surplus a little bit higher, because obviously you want to make sure that you have, you know, funds or access to funds.”…