The controversial $5 Million contract given to an “Efficiency Expert” hired by the Jindal Administration to find money-saving ideas for state government has proven to be not very efficient themselves.
Monday, Kristy Nichols, Governor Jindal’s chief budget advisor, said that the company, Alvarez & Marsal, wouldn’t complete its review of government operations until the end of May. Their report was due in mid-April.
Alvarez & Marsal was given a $5 Million contract by the Jindal Administration and tasked with finding $500 Million in savings and inefficiencies. To date, Nichols said that the company had found more than $70 Million in savings.
No wonder they need more time.
When the contract was given to Alvarez & Marsal, many lawmakers questioned the deal and added stipulations to the contract to ensure that the company’s recommendations were realistic and attainable and pegged the projected savings at $500 Million. The original contract with the Jindal Administration was open-ended and without a defined target.