As Mayor Helena Moreno’s administration digs out of the city’s latest cash flow crisis, officials on Wednesday warned that painful cuts would be needed to avoid a $125 million budget deficit next year.
Chief Administrative Officer Joe Giarrusso, addressing the New Orleans City Council’s Budget Committee, said the administration will also look for ways to increase revenue, including fee hikes, to offset the cuts.
“Cuts aren’t a potential. They are a definite. The question is the magnitude. The hope is we can reduce that magnitude by squeezing things higher,” Giarrusso said…