Nagin says emergency fund needs fattening

By Deon Roberts, Online Editor

Here’s some alarming news to come out of the city’s ongoing budgeting process.

Mayor Nagin says the city has $5.2 million in its emergency fund, which is about $20 million short of what it needs to have on hand.

“If we do not have a $25 to $30 million fund balance set aside for emergencies, I don’t know what is going to happen,” Nagin said in a CityBusiness story.

Interestingly, in the meantime, Tropical Storm Ida is twirling off the coast of Nicaragua, and according to the National Hurricane Center it’s expected to be in the Gulf of Mexico at least by Tuesday, when it’s expected to still be a tropical storm.•