S&WB Chief Financial Officer says they have no vital cash reserves

S&WB Chief Financial Officer says they have no vital cash reserves

NEW ORLEANS (WVUE) -The Sewerage and Water Board’s Chief Financial Officer says they do not have any money in vital cash reserves.

According to Yvette Downs, the S&WB now has zero dollars on hand as of September 30.

There are supposedly several millions of dollars in federal reimbursements coming by the end of the year, but for now the S&WB will be without cash.

Downs said this is putting a strain on operations, maintenance and capital improvement work.

According to a report by our partners NOLA.com | The Times-Picayune, The S&WB depleted its funding using more than $80 million in emergency funds starting last year amid a wave of complaints from residents about high water bills.

Downs said that has also led to a backlog of payments owed to vendors for other construction projects.

Press Secretary Curtis Elmore with S&WB said despite any financial issues, there will be no stoppage of services.

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