Lepine's administration predicts $7.5 million in lost revenues

Plaquemines Parish Government is predicting a $7.5 million shortfall as a result of the coronavirus pandemic and declining oil prices.

That figure is by no means final, but that was the ballpark estimate that Parish President Kirk Lepine and his administration put before the parish council in a series of budget updates last week. In meetings with four or fewer council members—in order to avoid a quorum—Lepine and Finance Manager Tommy Serpas presented the early projection of lost oil and sales tax revenues and previewed a pair of resolutions to go before the Parish Council to ask the State Bond Commission for permission to borrow money.

“We want to borrow money for cash flow like we did last year,” said Lepine. “It’s like a line of credit we can borrow and never use. But if we don’t have it, we’re going to have to scramble to find money.”

 

 

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Plaquemines Gazette

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