# Finance Committee Meeting, November 3, 2026

The City of Mobile Finance Committee met November 3, 2026, to review construction of the Regions Arena and the city’s response to a reported $14.7 million fraudulent transaction. The arena was reported about 75% complete, with its first event scheduled for March 25, 2027. The project’s original $300 million budget includes a $15 million owner’s contingency; officials said the current projection is about $281.6 million and that the project remains on budget, while noting that construction and FF&E contingency funds are expected to be used. No new contract award, bid approval, or purchasing vote was reported. Officials said the loss is not expected to immediately disrupt services or existing capital projects, though it could affect future capital-budget planning if funds are not recovered.

The administration described ongoing FBI and insurance-related investigations, said the city’s insurer has retained KLA Legal and a cyber-forensics team, and identified Pulsonelli as outside counsel assisting with the response and prevention review. Accounting-firm engagement was still being considered; officials said recommendations included local firms that had audited the city previously. Vendor changes now require three levels of approval, accounts payable no longer verifies vendors, and payments are receiving additional review; officials acknowledged payment processing has slowed and said restoring timely vendor payments securely is a priority. The administration agreed to provide weekly updates and written responses to answerable questions within a week. The committee also discussed a separate ad hoc review of policies and procedures, with membership and next steps to be worked out.

**Jurisdictions:** sled
**Industries:** Construction & Infrastructure
**Topics:** Physical Infrastructure
**Published:** November 03, 2026

### Sources
- [Finance Committee Meeting, November 3, 2026](https://www.youtube.com/watch?v=mfvy-kjS81I) - City of Mobile, AL