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Finance staff projects $10.3M general‑fund gap for FY25–26; teacher raises, charter costs and insurance drive pressure
Summary
Finance staff presented a preliminary FY25–26 budget timeline and warned of a projected $10.3 million general‑fund deficit. Major drivers include a potential $6.2 million teacher salary boost, charter school funding increases, and insurance costs; staff outlined potential offsets including staffing adjustments and pharmacy savings under review.
Lafayette Parish School System finance staff told the finance committee on March 18 that the district faces a preliminary $10.3 million general‑fund shortfall for fiscal 2025–26 and outlined the schedule for budget hearings leading to final adoption in June.
Anthony Mouton, director of finance, identified three large drivers of the shortfall: a projected insurance‑fund gap, new charter school funding obligations, and the superintendent’s proposal to raise the teacher base salary to $50,000. Mouton said staffing adjustments and pharmacy‑benefit strategies could offset a portion of the gap but that the district is still developing concrete figures.
Why it matters: The district’s budget…
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