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.

Uh one of the questions I have is that fringe is not included in this.

Can you explain why?

Yeah, uh, we're gonna we're gonna pay the fringe from available cash flow from the general fund so we can kind of extend the life of the RAN note.

It's kind of a timing of cash flow um because at one point in time we're gonna have to take excess cash from the general fund and start putting that into reserve account.

So we're kind of we're kind of looking to the cash flow and see trying to figure out what best pot to draw from.

Um so we expect that uh the the future payments of fringes will all be paid out of the uh general fund account, and I think you know we're estimating on January 21st will be about 3.4 million uh for the uh for the prior period and then for the emperor's lasers would be about 2.8 million, and then fringe benefits from the prior period ending 121 on the 1210 run is about five.

So all that's gonna be paid from the general fund with the excess cash and general fund.

Do we have a balance of the for the general fund at this point?

I don't have that in front of me right now.

We had a we had a conference call update, and I think they were plugging in some some new updates, and I have not received uh an updated spreadsheet from Ricardo as of yet.

I think he was traveling.

Do we have anyone from the administration who can provide any insight at this point in time?

Frita good morning, Frida Richardson Taylor, Deputy Director of Finance.

We will have that number for you, Councilmember Harris later on this morning.

Okay, thank you.

You're welcome.

What what are we doing about the police?

Uh yeah, good question.

There's been some some misinformation or some misunderstanding out there.

The the plan uh uh all along was to make sure that the direct deposit can be made by January 30th.

So uh we're right now in the process of reviewing is close to 800 individuals.

There's different criteria, there's different um uh uh uh levels of incentive.

There's like five or six criteria.

So we're going through that process.

We did finally receive requested the information we requested from the city about 5 p.m.

yesterday.

And so uh I have staff and boundaries actually going through it and and doing the review uh to verify that everything, all these payments.

This is gonna be the largest retention payment the city has ever made uh because a lot of these guys have hitting that hitting that three-year mark.

So obviously it's gonna be a big number.

Uh the estimate as we sit here today is nine point five million.

Uh so if everybody appears to qualify, that'll be the number.

And of course, it comes at a time when when cash is the tightest for the city uh as it has been for a while.

So we want to make sure we get it right.

My staff's prepared to work through the weekend to make sure we complete that process because I think we have a hard stop uh Monday to have this approved and submitted so that we can you know the finance department can then push push through the payroll process.

And we're still looking at taking the money from both general fund and the RAN.

Yes, I think uh I think the majority of that payment will come from the general fund.

Okay, is that the right?

3.6 of ARPA funding left uh that can be used.

The remainder will have to come from the general fund or RAN.

Grita, I see you walking up here.

Yes, just want to uh clarify that yes, it will come from the general fund, but it will come from the escrow funds of the sewage and water board receivable.

We have about 16.6 million in escrow.

So the remainder of the 3.6 million that's in ARPA, that difference is going to come from that cash that we have in escort.

Okay, so it won't affect the actual general fund cash that we have right now.

All right, and what how many more meetings for my colleagues are we anticipating having with you all?

We think we'll have one on 128, 24, 21, and possibly 218.

Okay.

We project a small amount that'll be left in as of 218.

Um I'm not sure where Martigras falls somewhere in there, uh we'll have to probably do that early.

Anyway, so uh it'll either be 211 or shortly thereafter, one more meeting.

Okay.

Any questions from any of my colleagues?

Council Vice President Willard.

How are we set uh as far as paying back the RAND?

And could you just shed a little light on that process and timelines?

Yeah, so what happens is we're gonna start making transfers.

I think by March 2nd, there's gonna be roughly 55 million that'll be pushed into a set-aside account.

I anticipate that the RAND uh payment, the repayment will be done sometime in May, June.

Um I think the I think Chase anticipates it in May.

So with March 2nd, the 55 million.

Yeah, that's a transfer.

That's a transfer to us, I guess uh uh reserve account, and it's set aside until the full payment can be made.

So that'll come from the general fund into the set of account.

That's correct.

That's correct.

So now you're running you're in the middle of property tax collections in your normal sales tax collection collections, etc.

So any excess cash or I guess excess working capital over like 25 million goes to that account.

Yeah, so they kind of look at it about every two weeks, and then we'll push that over.

But uh full payment will be made um in May.

Full payment is in May.

125 million.

Yep.

Okay.

Councilmember, uh, Frieda Richardson Taylor.

We have a payment schedule we'll get to you.

Our first payment has to be made by the end of February, and that is 15 million, and then by the end of March is when we make that 55 million payment.

So we're making payments every month starting in February at the end of each month.

Okay.

Thank you.

You're welcome.

Any other questions?

All right, Madam Clerk.

We have a report of Abigail Vang transmitted a biweekly expenditure report pursuant to ordinance number 30,522 MCS.

We have resolution or 2630 by Councilmember Harris by request.

This is being withdrawn.

And we have a substitute motion.

Approving and ratifying the release of $6,152,000 $826 for the City of New Orleans employee emergency fund to cover the calls of payroll related expenses for the city employees, other than the police and fire departments for the pay period beginning January 4, 2026 and ending January 17, 2026.

The foregone authorization shall be subject to concurrence by the Louisiana legislative auditor in accordance with City Code 70-415.347.

We need to vote to receive.

I'll move.

Councilmember Hughes seconds.

All in favor?

Seven years.

We need to vote to A.

I'll move.

Councilmember Green seconds.

All in favor?

Aye.

All right.

Seven years.

And now we can vote on the resolution.

I'll move.

Council President Morell seconds.

All in favor?

Aye.

Seven years.

We have resolution R2631 by Councilmember Harris is being withdrawn.

So ordered.

We have motion M26-32 by Councilmember Morel by request.

Ratifying confirming and improving approving the mayor's reappointment of Mara Bourne Bombardier Force to the revenue estimating conference as a faculty member of a college or university in New Orleans who has expertise in forecast and revenues or in related fields.

Effective upon approval of the count by the council of the city of New Orleans for a term concurrent with the appointing authority.

Question has been received.

You want me to take this?

Yes.

Tell us why you want to serve in this capacity.

To use the expertise that I have that I have developed over a career in banking and teaching.

Great.

Any questions for Ms.

Force?

Councilmember Willard.

Hey, Miss Forrest.

Good morning.

Morning.

New member, could you just provide some insight as to how the revenue estimating conference operates?

So well, I can tell you how it has been operating under previous uh administrations.

Um there was a city economist who did forecasting, and my job was to uh look at his numbers, give them sort of a sanity check, talk to him a little bit about what was going on on a regular basis, have him bounce some things off of me.

Um but I'm also um and also happy to serve as a resource for anyone with any financial related questions who just wants an outside independent uh person to take a look at things from an academic perspective.

Okay, and is that a dynamic process occurring throughout the year or is it at set intervals?

So the revenue estimating committee has certain uh number of meetings that they must have in order to approve the forecast.

Um but the conversation that I would have between any members of um the city uh would be dynamic, and I'm absolutely open to chat with anybody at any time.

Okay, thank you.

Any other questions for Ms.

Force?

We do have one card, it was uh on a previous item, but um Mr.

Feliciano wants to speak on this item.

Uh Ms.

Force, if you could step aside for a second.

You have two minutes, please state your name and address for the record and whether you're paid to be here.

Oh, I'm not paid to be here.

Actually, it's a funny story about that entire comment.

Um, my name's Daniela Philoson.

My mailing address is 400 Burgundy Street in New Orleans, Louisiana.

I just want to say God bless this council, and may everything be over very well for you guys going forward.

It's a new council for a session, and God bless you all.

Have an absolutely wonderful day.

Thank you.

That was very sweet.

Um council president Morel, you want to move?

Seconded by Councilmember McCarran and Ms.

Culture Moreno.

All in favor?

Aye.

Seven years.

Thank you.

Thank you so much.

Thank you.

And Councilmember Green moves to adjourn.

Seconded by Councilmember Hughes.

All in favor?

Aye.

Seven years.

We're adjourned.

Well, I think we're asking you.