New Orleans to vote on ‘rainy day fund’ in upcoming election
NEW ORLEANS — On November 18th, New Orleans voters will decide whether a portion of the city budget should be set aside for use during emergency situations.
The “Rainy Day Fund” would be a savings fund within the city budget that could be spent only after a two-thirds majority vote of the City Council and only under clearly defined circumstances. In August 2017, the City Council unanimously supported an ordinance to establish the fund.
If approved, each year the Council would be required to appropriate five percent of the average of the previous five years of general fund expenditures.
The Council could only spend the restricted funds under the following circumstances: a City Council declaration of emergency; a City Council determination of a significant loss of revenue due to the economic downturn of serious proportions; and/or a lawful mandate by the United States Government.
Additionally, a two-thirds majority vote would be required to spend any of the rainy day funds.
New Orleanians can vote early through Saturday, November 11th, with the exception of Friday, November 10. Election Day is Saturday, November 18th. For a list of designated early voting sites in Orleans Parish, click here.