Posted: May 28, 2014 1:06 PM
Updated: May 28, 2014 1:06 PM
Source: Associated Press
BATON ROUGE - Gov. Bobby Jindal's top budget adviser said she hopes to give lawmakers a copy of the final money-savings recommendations from consulting firm Alvarez & Marsal by Friday.
Commissioner of Administration Kristy Nichols provided an update to the House and Governmental Committee on Wednesday about the work done by the consulting firm, hired by the Jindal administration in December. The firm has a $5 million contract.
Bill Roberti, with Alvarez & Marsal, said the draft final report has 72 recommendations that exceed the target of $500 million in savings ideas, though many of those are long-term proposals that could take several years to reach the full savings expectation.
The 2014-15 budget proposal for the fiscal year that begins July 1, which is nearing final passage, assumes more than $70 million in savings will be reached from the consultant's plan.
The company was hired in December to look at ways to make state government programs more efficient without cutting services and to devise ideas for raising state revenue or tapping into existing federal financing streams without raising taxes.