This article focuses on the slow drawdown of federal funds made available for recovery projects in Louisiana since the trio of hurricanes that hit in 2005. It highlights the financial management needed for the long, complicated recovery process. Check out: Another lesson learned from hurricanes Rita, Katrina; December 16, 2011. A couple of excerpts:
While recovery from hurricanes Rita and Katrina from 2005 has been steady, the money allocated by the federal government to Louisiana has not been all spent. There is almost $2 billion still unspent from the $13.4 billion that was given to the state for rebuilding from those devastating natural disasters, according to the state Division of Administration.
That doesn’t mean it won’t be spent, since it will probably take the state years to fully recover.
While we can be grateful for the aide from the federal government, among the lessons from hurricanes Rita and Katrina is how to make the recovery programs from natural disasters more efficient, while making sure the money is spent honestly and for the purposes intended.