Audit Shows Improving Finances In Gretna

GRETNA, LA (AP) — Auditors say Gretna's financial position is solid and the Jefferson Parish city has made strides in reducing its debt.

         Ed Camnetar of Camnetar & Co. told the City Council this past week that only a revenue shortfall in capital projects budgeting was of concern.
 Times-Picayune’s Andrea Shaw reported Gretna's net financial position increased $4.5 million in 2014 over the previous year. Revenue declined $2.5 million, but Camnetar said the decrease reflected projects financed with grants that had been completed.

- Sponsors -

         Recurring revenue, including property and sales taxes, fines and service fees, rose $1.6 million, while ongoing expenses dropped $357,000.

         Gretna's general fund had a fund balance of $11.4 million, with $4.2 million not obligated.

         Meanwhile, the city's debt dropped $1.4 million, to a total of $17.8 million.

- Partner Content -

Entergy’s Energy Smart Program Brings Cost Conscious Innovation to New Orleans

Offering comprehensive energy efficiency at no cost to the consumer, Entergy’s Energy Smart program incentivizes Entergy New Orleans customers to perform energy-saving upgrades in...

         The only finding of concern reported in the audit dealt with a $217,586 — or 12 percent — revenue shortfall in the capital projects budget. The city is required to amend its budget to reflect changes, Camnetar said.

         Additional Coverage

Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter