The first thing we need to do is approve the uh minutes of the May 19, 2026 meeting.

I will move.

Seconded by Council Vice President Willard.

All in favor?

It is approved.

Let's go ahead and go through these um various ordinances.

Okay.

I know we have one under suspension, Ashley.

Yes.

Prior to the ordinances, we have motion M26250, which is a CEA between between DPW and Force One for protection at DPW facilities.

We need to suspend the rules to receive it.

I'll move to suspend the rules.

Seconded by council president Morrell.

All in favor?

It passes, yes.

And then we can suspend the rules to add it to the agenda.

I'll move to suspend the rules to add to the agenda.

Seconded by Council President Morrell, all in favor?

Aye.

Aye.

All right.

Um and we have Kyle here from finance to discuss this one.

Lovely.

Thank you.

So this is an amendment to the force one uh security contract.

Uh the contract includes sites that uh have been uh I guess punctually moved over to NOPD in addition to sites from DPW.

So there's a little bit of confusion on who is going to route the amendment.

And so we have some invoices that we need to get paid, so that's why we are um trying to expedite this time extension.

So these uh funds were already budgeted.

Alright, these are already budgeted funds.

Are there any questions about this for Kyle?

Hearing none, I'll move.

Seconded by Councilmember King, all in favor?

All right, let's continue down.

Thank you.

Item number three is calendar number 35,457 by request.

And this is Kyle, I'm not sure if you're handling the capital budget, or you might as well just stay up.

It's uh amending the capital budget by appropriating um some grants that align with some completed projects.

All right, any questions?

Kyle?

Uh so this is just like a quarterly budget ordinance that we're routing, so it's just uh after we reconcile projects, we have to allocate funds to permanent revolver, and it's just aligning any grant increases or changes that came through in the last couple of months.

Any questions for Kyle?

Hearing none, I'll move.

Second by council uh President Morel, all in favor, all right.

Number four is our calendar numbers 35,458 and 459, and this is transferring 300,000 in grant funds to the health department for the Healthy Start program, I believe.

Dr.

Wagner, welcome.

Um I believe this is for the Packard grant.

Packard is a private foundation that focuses on a number of things, including uh family health, and they have been a supporter of our Family Connects Universal Postpartum Home Visiting Program in the past.

With this 300,000, we're gonna continue the evaluation of the program, which has so far demonstrated significant increase in savings and wonderful health outcomes.

We'll be able to keep that going longer.

And most excitingly, it's going to fund baby boxes.

So a newborn, a family with a newborn will get to take home a box full of essentials.

Um, and we've identified that those basic needs are among what families really really need the most after the birth of a child.

So very excited.

Fantastic.

Any questions for Dr.

Vega?

Hearing none, I'll move.

Setting by council member McCarran, all in favor?

Aye.

All right.

Item number five, our calendar numbers 35,460 and 461.

And this is appropriating five million dollars in capital outlay funds for the sewage and waterboard power plant.

Do we have anyone here to talk about this?

No.

Do any council members have any questions about this?

This funds the power plant.

I'm sorry.

Okay.

Hearing none, I'll move.

Seconded by Council Member McCarron.

All in favor?

It passes.

Thank you.

Alright, item number six is calendar number thirty-five thousand four sixty-two by request.

And this is transferring a hundred thousand dollars in operating funds from operating funds to personnel funds for the OIG.

Alright, is anyone here from the OIG's office?

Move by Council President Morel.

Seconded by me.

All in favor?

It passes.

Item number seven is 35,463 and 464 by request.

And this is appropriating 250,000 dollars at the FI department for the Louisiana State Urban Search and Rescue Task Force.

Sounds like a worthy uh endeavor.

I'll move.

Second by Councilmember McCarran.

All in favor?

Passes.

Item number eight, our calendar numbers 35,465 and 466 by request.

And this is appropriating $75,000 in grant funds from the Greater New Orleans Infrastructure Partnership to workforce development.

I'll move.

Second by Councilmember McCarron, all in favor.

Aye.

Item number nine is 35,467 and 35,468 by request.

And this is appropriating about 47,000 in grant funds to the health department from the Telsa Community Foundation.

Dr.

Vregno.

So this is actually re-recognizing this money.

This was money that was given to the health department long before my time to fund community health improvement plans.

The original conditions of the grant were satisfied, but we had remaining money left over.

So we are now applying it to our current uh community health improvement planning process, our reaccreditation, and our quality improvement plan.

Great.

I'll move.

Seconded by Council Member King.

All in favor?

It passes.

Thank you, Dr.

Vignal.

And the final ordinance is calendar number 35,469 and 35,470 by Councilmember Morrell.

And this adds more money to the two current contracts we have with Barrazzo Houston for WISNO litigation and then the other contract for general legal services.

Second.

Hi.

Ms.

Fears, um, can you add me to the audiences?

It appears I'm the only member of the budget committee that's not on the audience except for the last one, number 10.

Okay.

You want to be added to one through nine.

Okay.

Yeah, he should be.

Sorry about that.

We'll make sure IGR gets to uh three.

Alrighty.

Number 11 are all of the civil service pay plan amendments.

I believe these are all being deferred.

These are all being deferred for now.

All right, that brings us to the last item number, number 12, the CAO finance and budget presentation.

Okay, welcome up, CAO.

Much more than that.

Is this jobs?

While they're getting set up, I'll just let you know that since we're past the agenda deadline, all of these will be on the regular agenda for the council meeting on Thursday.

So you have to vote on them again.

Alrighty.

All right, members.

Good afternoon.

It's good to see everybody.

Before I get through the presentation, I just wanted to let the council know that the NOPD controller, Charlene Rollins, is here today.

So she is in mind, Charlene, right there.

So if there is anything in specific you wanted to know from her, she's here to help answer questions.

Um we're gonna keep this high level.

I think almost a lot of feedback on this one.

Um I think almost all these matters the council is well aware of, but we still want to go through everything.

I'm not gonna read everything on these slides, but I do want to make a couple notes of interest.

The first is on the cash management fund, it sits at 65.3 million dollars.

I highlight that for two reasons.

One, remember, we originally were building the fund to be at originally a hundred million dollars through efforts of the city in consultation with the council.

The uh funds deposited to date are actually closer to 120 million dollars.

So that's why you see this number being higher.

The other thing, too, is remember based on what we showed a couple of months ago.

We would have expected this number to be closer to 40 million dollars, maybe even um 30 million dollars at this point in the year, and the fact that we're here is because of management that's gone on, as well as additional money being put into it.

And the last note I would make with this is that we have more and more $8 million payment from the assessor we're expecting in July.

Infrastructure bond sale.

Again, I'm not gonna read all these to you because the council's well aware about this.

The two most important things from my perspective are number one, this has closed now, and the cash is supposed to be in hand by the City of New Orleans.

So if if members are asking you where is my money, when is this going to happen?

The money is here.

Now it's just a question of putting the work out and how we want to make sure that's thought in a thoughtful way.

I would also just ask members if they have certain projects that are atop of their list.

Please let us know as soon as possible that are part of this uh sale.

There are obviously matters that we know of grave importance to your constituency, the residents, and to Mayor Moreno.

The other thing too is you'll see in the last bullet point that the city got $7 million as a premium on this bond sale.

I want to credit both our financial advisors, bond council, and everybody else within the city who worked on this.

It's really a testament to their efforts to get it.

It was also a matter of how we time the market to get to this point.

And I'd also note that's notwithstanding the bond rating issue as well.

So I think ultimately really good for the city that we were able to get those additional dollars.

The next slide talks about the Caesars proceeds.

Of course, the council had really good questions about those.

The last time we met, I just want to really point out the very first bullet point, which is this money is now sitting in a lamp account and has already accrued over $225,000 worth of interest.

So that's what goes to show you both when you have a lot of money you put into the bank and you keep it there and you grow it appropriately.

And of course, I know the finance director and PFM will be talking to you about potential changes to the financial advisement policy, so we can see if this and other funds in the city can work even harder for us.

The other thing to talk about today is the status of the 2025 audit.

All of that remains on track.

The biggest change for the council, and I know this is something that perturbed me when I sat in your seat, is that the previous administration did not share the audit until it became live.

The legislative auditor, Mayor Moreno has instructed me and Councilmember Harris knew about this on Friday, that as soon as we file it, we're sharing it with the council.

We are not going to delay, there's not going to be anything that takes longer.

As soon as it's done, the council will have it too, so that way you can see everything as well.

And then my final slide is about revenue, but I want to bookend it by saying two things.

Number one, the mayor and everybody inside her departments continue to look for efficiencies.

Some of those are simply ways that we can scale back on certain things that are being offered.

But in other ways, it's how do we enhance services too.

And so the council may not be aware that on Friday, civil service approved the creation of a single contracting group.

So that way contracting doesn't live separately in all these departments.

It will now have its own separate office that lives under CIM.

So that is something that will improve.

And then the last thing specifically the mayor wanted me to tell you that I have in my notes is that the mayor, and obviously I know this has been an issue for the council as well, wants City of New Orleans out of furloughs as part of the 2027 budget.

So with that, members, that's my presentation, and I'm happy to answer any questions before Alyssa Bekens.

Yeah, thank you.

Uh CO Drew.

So I do have a couple of questions specifically around uh dashboards.

I know that we all are very concerned with public uh transparency, making sure that we have all of the same information.

The public has it in real time.

I know that my office has been working with Abby in your office to try to get these dashboards up and running.

So I'm just wondering about a timeline.

I also know that there's a uh draft ordinance circulated by Committee for a Better Better New Orleans that I've seen, but I do think we need to get dashboards up and running sooner rather than later.

Yeah, I'm gonna answer at a high level and then let Abby not uh write a check that I can't cash, which is we we thank the council very much for the push on this.

I think a significant amount of the data is already readily available, it could be pushed out very easily.

As I understand from Abby, I think the hard part will just be cash management, which tends to be a Friday activity, but if we have to manually update, that's not a problem.

And now I'm gonna look to Abby to try and give a good timeline for the council and the public to be on the lookout for that.

Yeah, I think we could uh get something set up in a matter of weeks, and I'm looking forward to working with Dominique and the rest of your team to make it happen.

Great.

And I know that uh the council uh central office has been working on this as well.

So the sooner we can get it up the better, especially as we're going into budget season, getting our priorities together and getting the public's input on what their priorities are.

Any other questions for our CAO?

Since our machines are a few.

Okay, Councilmember King.

First of all, uh CEO of Jerusalem, great job with uh balancing the budget and increasing revenue.

Um can you forecast when the city will get out of its current furlough status?

I council member, I I can at this point, and one of the biggest reasons why is because of a word you just use forecast.

Um I think everybody's concerned with hurricane season right now.

I think the last thing I want to do is make a promise that hurricane season upends that the goal is to get through the latter part of that and and reevaluate.

I know when I've been here in chambers, I said we all have an eye towards the end of the year.

We remain committed to that goal and want to make sure that we do it as easily and effortly as possible because I know what a big issue it is first and foremost for those who are bearing abroad, but also for the council as well.

Okay.

And uh what would um how much outside funding has it has a city secured since January 2026?

Outside funding in terms of grant funding, Councilmember?

Yeah, I think we'll have to get that answer to you.

Um I'm not quite sure the total number at this point.

Um, you know, generally, and this is sort of in rough terms, the budget has been roughly about eight hundred million dollars in general fund money and about seven hundred fifty million in outside funds, but we can also look to see not only where that number stands at this point, what we projected it to be, and also um obviously I know we're looking at how we collect money for reimbursement as well.

All right, that's all I have, okay.

Councilmember Hughes.

Uh thank thank you, madam chair.

Um, Mr.

CAO, um, let me ask a question, and this is kind of looking a little forward.

Um as a former appropriator, we kind of thought about budgets well in advance.

So, um as we anticipate, we know we have some votes coming up on the Omni Hotel.

And one of the key talking points that's being utilized is a five million dollar infusion of cash through uh safety and permits fees.

So walk me through um, you know, let's say hypothetically that five million dollars comes through.

Does it stay parked with safety and permits?

Does it go to the general fund?

Is that money infused on this current fiscal year?

Does it go to the next fiscal year?

So just walk me through so I can have a full understanding as I try to contemplate you know all of the talking points that's being thrown at me.

I appreciate the question.

Um I'm in two different places, council member.

Place number one is don't count your chickens before they hatch.

Yeah.

And so I hate to that's why I say hypothetical.

That's right.

So I've been that place.

I think number two, it really depends on kind of where we are from a cash flow perspective and where we see the budget trending at year end.

Um I would also like, as I think I've mentioned the council member King, if it's the council's will to look at some of those funds as a way to escape the furloughs and make something smoother as we move forward, that seems like an appropriate use of that money.

We want to talk also about the fact that the money is derived from economic development and how that is spent.

I think we're open to those conversations.

I I I this point I always just try to be careful because cash is king.

We want to make sure that we're not spending unnecessarily.

But at the same time, I hope as we can contain and make sure that we do our best work possible to use funds like that to potentially get out of furlough as early as we can.

Okay, and and just from my understanding, I'm gonna piggyback on council member King's point.

So I know you brought up uh hurricane season and you know potential emergencies, but uh correct me if I'm wrong.

Didn't we infuse a significant amount of cash in the fund balance for emergencies?

We have the hundred million dollars that sits there right now.

Again, the hope is to not have to touch that money.

Right.

But if we get a major storm, right, we we would likely touch that money, right?

I I'm I'm trying to understand the correlation between furloughs and an emergency.

Well, I think I think the question though is we if we have one hurricane of minor uh magnitude, it probably maybe even barely touches that.

We have two to three, it's a significant difference.

Now we're trying to manage everything that happens.

And I'll just say, Councilmember, just quite candidly, when it's come to this, I've tried to be as conservative as humanly possible when it comes to managing the cash.

Um, you know, you see right now in just general fund, there's three million dollars that is sitting there, which is not a significant amount of money relative to 800 million.

Sure.

And so I just want to make sure just again that we're not spending funds that we need to come back later and have to use, while at the same point making sure we all pick a really good time that we think is a sweet spot to try and handle this, knowing how hard the situation is.

What is the magic number?

And I know it changes, you know, uh every month as we get to the end of this fiscal year, but in order to get our employees off of furloughs, um, what what is that magic number as of today, as of June?

I think I think there's there's probably two different aspects to the council member.

One aspect is making sure we feel like the cash management can be had good through year end.

Even though I know Alyssa has a cash management model that goes out through the year, um, basically what I keep on being told is it's only as good as every 12 weeks.

So let me give you one example.

When we first got the cash management model, it showed us running the city running out of money in August.

As a result of more money being infused and getting more than anticipated, that moved over to September.

So it's a forecast and something we can't rely on, and I think we obviously have to look on how money comes into the city's coffers, whether through things like hotels, other expenses we don't expect, and other revenue raising measures as well.

And as we see all of that picture become clearer, probably I would say members, September, October, then think that's a perfect point to pick this up, and I'm and I'm glad that people are being reminded of.

Yeah, and my final thing, and I'll yield as you and I have talked about privately.

I'm gonna keep, you know, just reiterating this.

Um as gas is sky high, as groceries are sky high.

Uh my fear is that our human capital, you know, is gonna begin shopping around uh for better opportunities because we have a lot of people who come to me privately uh and tell me that they're struggling and they just don't know how long they're gonna be able to hold on.

So, you know, as as new cash comes in, I just want to make it clear for everybody, and I'm one out of seven, it's gonna be a very high bar for me to dedicate money to anything other than our human capital because look, we're always gonna have priorities, right?

Everything's always gonna be an emergency and urgent.

But the the women and men who show up every day uh under very tough circumstances, we've got to do everything that we can in these tough economic times to get them out of this furlough.

And I I know you're thinking about that.

I know the mayor is thinking about that.

So I want to uh acknowledge that y'all are thinking about that, but you know, we we just have to this is urgent at this point.

I uh uh council member Hughes, I I totally agree with you.

I know the mayor totally agrees with you, and as much as I know she's um imbued with all the hope that she has for everybody's districts and willing to support people across the city.

The one thing that she has repeatedly said, and she used the word hate publicly and privately is those furloughs, which is why she specifically told me to add to the presentation that she's looking to end it for 2027 and then how we work with the council attended another.

Great.

Thank you, Mr.

C.O.

Thank you, madam chair.

Thank you.

Councilmember King.

Thank you.

Uh I want to if we can, I want to change the subject just for a little bit.

Um I was at a meeting yesterday in in uh 1100 block, 1,000 block of Decatur about the uh street construction.

Thank you to Councilmember Hughes for for attending and uh taking some of those questions.

One thing that came up, and I I promised the people that I would ask, and uh this is a good venue to ask.

I didn't have the answers then.

It was questions about probably uh if it's possible to alleviate some of the the maybe the sales taxes or give those businesses some sort of break.

I told them I didn't have the answers, but I would ask someone who may have been.

I hope that maybe that's the CAO's office.

This their their logic is we we can't pay sales tax if we don't make sales, and they had three businesses that have gone out of business as you may know.

But uh however, is there any type of help sales tax, um, property tax that you'd think may be legally feasible to help those who are you know making the fraction of what they've been making for years?

You saw me lean over because Alyssa just whispered in my ear.

I think there's work being done on that.

Okay.

So we're happy to work and see what answers we can have.

Also, no, I saw your email this weekend about convening suit and water board there to provide as much urgency as possible.

You know, the mayor was with her team yesterday walking that as well and wants to make sure that's a high priority for the businesses and the residents who are there and to help as many people as possible.

Okay, so we're going to meet tomorrow at 4 30 at 1001 uh decade up because that's a French market restaurant.

Um again a 4 30 switch water w sewage and water board will be there along with about a dozen or so um affected businesses, and if we could have maybe uh outline of something that could help those businesses, sales tax reduction, permit reduction.

No answers, no concrete answer, but just a little framework of what's being talked about.

That'd be great.

Thank you.

Thank you, Councilmember.

Seeing no other questions, we can move on.

Uh councilmember Willer.

Thank you, madam chair.

Just a couple of questions.

Um I don't know if this is the right timing.

I had questions about the audit, the un I guess I'll just ask them now to get them out.

Yeah, it's fine.

Okay.

I'll probably look over.

Alyssa, do you want to do that?

That's fine.

Uh but we're all team.

That's fine.

Um, so when we get these reports, I kind of just look for anything that seems to be off and I noticed a couple spots.

The beer, wine, and liquor tax is significantly lower than it was last year.

Is there any policy change or something going on that caused that drop right now?

No, so I actually asked that question as well to my team and took them a little bit to um find the answer to that, but it's just been delayed processing.

So we'll see it again in next month's report.

You'll see it on here.

Okay.

And then for the traffic signal and camera enforcement on the next page under fines and forfeit.

We're at 10% of the budget right now.

That's just four minutes.

I just thought.

It was on the next page.

Yeah, traffic.

What number is that?

Under fines and forfeits.

Yeah.

Yeah.

Actually, I didn't have that one um noted, so I'm gonna have to give you a uh answer after the meeting on that.

Okay, that works.

Um and then my last question on the weekly um cash management reports that we get, there was an ex it's uh the property tax clearing expense.

It was for 3.7 million dollars.

Could you explain what that is?

So those are the funds that go out to the other agencies when we collect their portion of property tax correct.

Okay, that's all I had.

Thank you.

And and council member to that point, um, cash management report says it.

I didn't put it maybe should have in the presentation.

Um, we'll get Alyssa too if I get this wrong.

We're at 93% collection on property taxes and 39% collection of sales taxes.

So remember, just uh meeting or two ago, it's close to 20 or 21%.

So sales tax keeps on taking it as well.

Okay, so we're trending in the right direction on sales tax.

Yes.

Okay.

We had a good month in May due to the French quarter of Jazz Fest.

And then there were a few events um that I guess was in June that Romy suggested could cause a little bit of an uptick, but then of course we start to see it go down again in the summertime the rest of the summer before we can see any additional coming back up in the fourth quarter.

Okay, and you guys actively monitor this uh REC budget versus actuals, just to, yeah.

Okay, yeah.

And just council member, you know, I think Councilmember Harris has asked about this.

We will have REC at the end of the second quarter.

Okay, primarily for the purpose of uh recognizing some additional one-time revenue, namely the assessor's money.

Oh, I forgot one other thing.

Um I should have fled with this, which is remember at REC, we recognize uh as a city 29.5 million dollars from Sujent Water Boards as a receivable they were gonna collect.

As of today, student water board is reimbursed the city over 30 million dollars.

How much 30 million?

Okay, so we're actually about 500,000, a little over 500,000 ahead.

We will anticipate being in June.

Now, I would not expect that to be 35 or 40 million by the end of the year with the fact that we're the middle of the year and already they've contributed that much.

Is also factor in managing our cash as well.

Good deal.

Thank you.

All right, Alyssa, you want to get through your report?

Yeah, sure.

Do we okay?

All right, thank you very much, madam chair and members of the council.

Um, for having me back again.

Today I'm going to be presenting on April's results.

So that's as of April 30th, 2026.

Um, this report includes updates on our revenues, expenditures, overtime and staffing levels, and the city's overall financial position through the first four months of the year.

So beginning with this first slide here, through April, revenues exceeded expenditures by approximately 106 million year to date.

In addition, the city transferred approximately 68.2 into reserve, and this is in our cash management reserve fund that we keep speaking about.

After accounting for those transfers, the net change in fund balance was approximately 38.2, which you'll see here on the bottom of the page, toward the center.

This distinction is important that the transfer out, um, because it reflects a deliberate strengthening of the reserves rather than an operating deterioration.

Moving to the next slide.

Okay, revenues.

Thank you.

Year-to-date revenues totaled approximately 334 million, which exceeded the budget amount of 324 million by approximately 9.8.

Property taxes and sales tax revenues are generally performing in line, while we had some miscellaneous revenues continue to trend favorably against the budget.

One item to note here, and you could see on the front uh on the back on the executive summary page that April property tax revenues reflect an adjustment for the required contributions to the state retirement system and the assessors portion of that.

Overall property tax collections remain slightly above the budget year to date.

As of April 30, 2026, total year-to-day spending for personnel and other operating expenses was approximately 228.2 million dollars.

This represents about 28 and a half percent of the city's adopted annual operating budget, while we are roughly one-third of the way through our fiscal year.

Personnel expenditures totaled approximately 137.1 million, and other operating expenditures totaled approximately 91 million.

Both categories remain below the year-to-date benchmark established for budget monitoring purposes.

These results reflect the impact of the administration's continued fiscal management efforts, including the hiring freeze, expenditure controls, and ongoing review of discretionary spending.

While spending patterns do not occur evenly throughout the year, and certain costs will accelerate in later months.

Expenditures currently remain below projected year-to-date levels.

For overtime in April, expenditures totaled about 1.8 million dollars.

This was about 1 million below projected spending for the month, and significantly below April 2025, overtime expenditures of approximately 4.19 million.

Year to date overtime spending through April totaled approximately 12.3 million against the total annual overtime budget of 38.9 million, leaving us with roughly 26.6 million of overtime budget authority remaining.

These results continue to excuse me.

These results continue to demonstrate the effectiveness of the administration's overtime controls and centralized review process.

Departments have been required to closely monitor overtime usage and justify operational needs, which has contributed to spending remaining below both projections and prior year levels.

For personnel, at the end of April, the city had 4451 field positions out of 4782 that were budgeted.

This includes about 331 vacancies, an overall vacancy rate of about 7%.

As of April 30th, the combined unaudited general fund consolidated balance totaled approximately 211 million.

I want to emphasize that this balance does reflect the transfer of funds into the reserves during the month and should not again not be interpreted as weakening of the city's financial position.

And as CAO Doriso noted, the city is continuing to work on our audit.

The 2025 audit will be done by June 30th, and you will be receiving a copy of that as soon as it's uploaded to the LLA site.

In closing, the city's financial results through April remain favorable.

However, it's important to recognize that the city's revenue collections are seasonal with the majority of the property tax revenues received during the first quarter of this year.

As a result, year-to-date surpluses at this point in the fiscal year should not be viewed as indicative of the city's year-end position, and we will continue to monitor recurring revenue and its performance.

So thank you.

Let me know if you have any questions.

Thank you.

We do council member McCarron.

Um Alyssa, on the prior year property tax collections, the actuals for 2026 is only 6,700, which is like less than 1% of the budgeted amount for of $720K for the entire year.

I know that seems like a small amount, but what efforts are we doing to make those additional collections for prior taxes?

So we are doing a uh delinquent tax reporting mail out.

I think by the end of this month that will go out, and then it'll be uh due a month later.

So I would like to think that those numbers, those prior year delinquent notices will also be included in this to be able to get that um collection up.

Okay.

And on that note, do we have any updates on the number of sales tax audits you guys have completed?

You can always email it to us if you don't have it right now, but and then what are we doing to try and collect those, and if you have any idea of the amount that people are past you are owed?

I did recently get an update just the other day.

Um I can send that over to you once we um once I get back to my office.

Great.

Thank you.

Can you send that to all of us?

Yes, definitely.

And council members, I just leave it over to Abby.

Um, as part of our application to the bond commission, we had a number of materials that were due today.

I'm gonna send Abby's gonna send to you all the narrative that we sent to the state about all the expenditure revenue items the city is built.

So you all will have that too.

And the thing I like about it is it's the best cheat sheet we have.

So if people are asking you constituents want to know for easy reference, you can see uh where we've been, where we are, where we're coming from.

Great.

Any other questions from the dais?

All right, I think we have one more presentation on the investment policy.

We do Sean Gannon from PFM Asset Managers are here is here today to present on that um policy review.

Sean, do you want to come up?

Good afternoon.

So I'll be uh working through a brief presentation on the city's investment policy and the changes recommended to uh bring in line with state code as well as other industry best practices.

Uh at the outside, you know, please interrupt me if you have any questions or would like me to go into anything further in depth.

Um, other than that, get started.

So when we look at the uh best practices of an investment policy, uh we typically utilize three guiding principles.

The first one being state code, uh the second being the GFOA best practices, so government finance officers association, and the third being the APTs, the Association of Public Treasurers of the United States and Canada.

Um, the legislative auditors will put out a QA, so we incorporate that uh as well.

So within those three uh sections of including this presentation, uh, a listing of the guiding principles within them.

Uh the highlighted portions are really where uh emphasis is being placed on updating your the city's policy uh to again bring it in line with these three guiding principles.

Um the main one with Louisiana State Code is just bringing it up to speed with uh the permitted investment language.

So state code is has a greater allowance in the types of investments you can utilize.

Uh so we are looking to really just bring those into the fold, bring the city's policy up to uh the changes made there.

Um additionally, the following two here are a little bit more expansive.

Um you all have every section within these guiding principles, but uh just looking to update them to 2026 standards.

So this is the GFOA's uh listing of requirements.

Uh, again, these are all included, but uh there have been some slight changes.

And then uh last year of the three is the Association of Public Treasurers, where we are looking to bring a few sections again up to current current best practices.

So to touch on the main change for uh Louisiana State Code, this is a table uh highlighting the allowable investments for um the city currently as the investment policy stands today, and what is then allowed by state code.

So those yellow um brackets there are that the outline uh highlights what we would be looking to add into the policy.

Um so the main one here being corporate notes.

This would allow additional income to be generated for the city's cash, uh, and increase the interest earnings.

Uh, to hopefully help help with the budgeting process and the revenues for uh the portfolio.

Um and then lastly, my my last slide here is just to touch on some of the the highlights of the changes in policy.

So not just an increase in diversification to again allow for additional sector types, but also a few other items related to the scope, related to um the prudent investment rules related to the investment committee makeup.

So um yeah, a pretty brief presentation, but if you all have any questions, um, happy to answer them and council members, just as a bookend to Sean's uh good presentation, remember our investment policy is actually codified city code in case anybody wants to take a look at what it is, we will be sending you changes to update Sean's identified.

It's in chapter 70, starting with part six theory.

Any questions?

Alright, hearing none, can I entertain a motion to adjourn?

Council Member King, second by council vice president Willard, all in favor.

I thank you all for sharing up today.

Thank you.