The Revenue Estimating Conference shall be composed of the Mayor, who shall serve
as chair, the Chief Administrative Officer, the Director of Finance, a member of the
Council selected by the Council, and a faculty member of a college or university in
New Orleans who has expertise in forecasting revenues or in a related field. The faculty
member shall be appointed by the Mayor and confirmed by the Council to serve for a
term concurrent with that of the Mayor and shall be subject to removal under the same
procedure as provided in this Charter for removal of board members.
(2)
The conference shall prepare and publish initial and revised estimates of money which
is to be recognized for the current and next fiscal year by the City general fund
and all other City operating funds, such estimates to be based upon standards promulgated
by the Governmental Accounting Standards Board and which shall be known as the "official
forecast." The conference shall meet at least quarterly. The Mayor may call meetings
of the conference at any time in accordance with applicable state and municipal law
and shall call meetings when requested to do so by Motion of the City Council. In
each estimate, the conference shall designate the money which is nonrecurring or will
recur only in a limited number of years. Conference decisions to adopt these estimates
shall be by a unanimous vote of its members. The most recently adopted estimate, as
defined above, shall be the official forecast and shall constitute a recommendation
to the Mayor and City Council of the amount of revenues to be included in the operating
budget for the year for which the forecast is made.
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