Council hears grim news on Parish Finances
Parish Finance Director Tommy Serpas issued an ominous warning to Council Members last week that whole departments will have to be eliminated in 2021 unless additional revenues are raised and expenses are cut from an operational budget of around $40 million.
Plaquemines Parish Government finances have been bleak for several years due to the downturn in oil and gas production. Infusions of cash from settlements and reimbursements have allowed parish government to continue to operate without drastic cuts to services, but Serpas warned, he would not count on those funds in the future.
Since 2017, budgets have been balanced using $45 million in cash from the 2010 BP Oil Spill Settlement. At the time of the settlement, the parish received a total of $25 million split in two payments. The remaining $20 million was split into 4 annual $5 million payments ending next year.
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