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Finance & Accounting
Pages 8 (2008 words)
Budget John Jones State University Introduction Every municipality, from the smallest village to the largest mega city, has to have an operating budget. In essence, it is a document drafted so that the town governors, usually the council, can determine exactly how much money can be spent by the city and how the different departments get the most money they can to operate in a given time period, normally a fiscal year.
The city budget is therefore no different than the budgets of the higher governments, because at the State and Federal levels, their budgets have to be enacted by the appropriate congress and signed into law by the governor or President, even though the budget of course gets progressively larger. However this is not always the case, because New York City proper with a population of 8.2 million has a current budget of $47.1 billion while tiny Wyoming with just over a half million people budgets itself currently at $3.2 billion (Wyoming). Therefore this paper will examine the current budget of New Orleans, Louisiana, and how the city spends its money, whether it operates at a surplus or deficit, and whether the city is efficient. After all, many times over the past century the press has reported on the corruption of the city and the state of Louisiana in general. Discussion New Orleans Louisiana is a relatively small city, although the largest in the state, with a rank of only forty-six in terms of the United States’ most populous cities. It encompasses five districts with one city council person each and two at large councilmen with the current mayor being Mitch Landrieu. ...
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