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Budget Finance - Research Paper Example
The researcher of this descriptive essay mostly focuses on the discussion of the topic of municipal budget and analyzing the issue of the corruption in the small town of USA. This paper analyses New Orleans Louisiana which is a relatively small city in the state of Louisiana…
The author of the essay "Municipal Budget" makes the deep analysis of New Orleans, Louisiana. 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.
The budget then encompasses some 565 pages and is pretty much detailed and informative, with graphs and comparisons to similar sized cities such as Portland, Oregon and Atlanta, Georgia. It tells where revenues come from, what money is spent and where, whether there is going to be a surplus (yes with a 2011 surplus of $500K), and whether there are to be any cuts in city services. The budget also addresses two other difficult areas. One is the situation faced by municipalities all over the country, that of the nationwide recession begun in 2007-08 and continuing today. New Orleans has its share of unemployment woes; at 8.3% it is slightly higher than the national average. With the unemployment comes hundreds of foreclosures and other abandoned buildings. Added to that is the fact the city is still trying to recover from Hurricane Katrina in 2005 which only adds to the blighted structures and a good portion of the city’s budget is devoted to placing liens and demolishing these buildings. So yes, the current budget does give a very adequate overview of New Orleans’ financial position. ...