A special meeting of the New Orleans City Council was held on Wednesday, January 21, 2026, at 9:05 AM in City Hall Council Chamber, convened by Council President JP Morrell. The meeting focused on the city's financial condition, including review of a payroll drawdown from a revenue anticipation note (RAN), approval of a substitute resolution releasing funds from the Employee Emergency Payroll Fund, and reappointment to the Revenue Estimating Conference. The meeting adjourned at 9:19 AM.
I received a letter, dear Madam Clerk, pursuant to my authority in section 3-1075 of the home rule charter of the city of New Orleans. There will be a special county council meeting on the following day, January 21st, 2026 at 9 a.m. These meeting this meeting will be limited to the discussion and consideration of matters relative to the current financial situation the current financial condition of the city, including without limitation the status of the general fund and any changes that to be expected revenue or funding and ordinance number 30,522 and any other matters that may properly come before the council. Please make necessary arrangements to have this meeting table caliph cable case live on government access television channel and tape Ferrique and in the future since clearly JP Morrell, President of the New Orleans City Council, Roco, Council President Morel. Here. Council Vice President Willard. Here. Councilmember King. Councilmember Green. Councilmember Hughes. We have we have six members. We have a quorum. All right. We have as usual. Our legislative auditor is going to present his report. We need the vote to receive the legislative auditors report. I'll move to receive the legislative auditors report. Councilmember King seconds. All in favor? Aye. Aye. Seven years. And we need to vote to add to the agenda. I move. Councilmember McCarn seconds. All in favor? Aye. Seven years. Good morning. Good morning. Good morning. Mike Wagg's back, Louisiana Legislative Auditor. Next to me is Chris Province. And today's date is January 21st, 2026. And in accordance with the state bond commission terms and conditions for the approval of the City of New Orleans, 125 million revenue note. We have reviewed this week's requested drawdown. And so as of today, our preliminary review indicates that the city's request totaling $6,152,826 and 70 cents is outlined below. Uh to the JP Morgan bank account. And this basically is for the funding of employee compensation and the related employee and employer taxes as noted in exhibit A. So in the exhibit A, you'll see the net earnings of 4.5 million with the employee taxes, garnishments, related apparel taxes that totals that'll total to the ADP transfer of $6,152, $827. Exhibit B reports the gross earnings and then the overtime pay. And the overtime pay uh came about $90,000 under what was estimated. So the overtime pay for this particular pay period is roughly $220,000. On exhibit C we'll see the year to date gross earnings, which total roughly $22 million. Gross overtime $2.3 million, which is about 10% of the gross earnings. And then the last but not least, exhibit D is the revenue anticipation note bank activity. And you'll see for this particular pay period, we uh we're showing that the drawdown of 6.152 826 will then leave roughly 18 million four hundred and seventy-five dollars and seventy-nine cents available for future transfers. So at this time I'll entertain any questions you may have. Thank you, Mr. Wagasback.