The City of New Orleans can expect to meet a June 30 state deadline for submitting its comprehensive annual financial report (CAFR) for the 2011 fiscal year. Postlethwaite & Netterville auditor Joey Richard gave that news last week to the City Council's Budget, Audit and Board of Review Committee. Last year, the city had to get an extension on its FY 2010 report, which it submitted last September.
Richard, who prepared the 2010 report, noted last year that tardiness had been a recurring problem for the city and its report. The 2009 CAFR was delivered on July 30, 2010, a month late. Richard blamed the delays on shortages of staff and funding in the city's Finance Department.
"We have a commitment from the Finance Department to get these things in on time," Richard said at the meeting. "We're going to be right on the edge [of the deadline], but we think that we can make it."
— Charles Maldonado