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Finance committee approves revised FY2024-25 budget with $29 million in transfers
Summary
The Bossier Parish Schools Finance Committee approved a final revised fiscal 2024-25 budget Aug. 21 that includes $29 million in transfers to an insurance reserve, child nutrition, committed construction and the group health insurance fund; the committee discussed program shortfalls and reserve targets before the vote.
The Bossier Parish Schools Finance Committee on Aug. 21 approved a final revised budget for fiscal year 2024-25 that includes transfers totaling $29 million into district reserve and program funds, committee documents and discussion show.
Committee members voted to approve the budget in a motion by Miss Faulding, seconded by Dorby; the motion passed during the meeting. The budget presentation was given by Nisneesh Bamberg, finance staff member.
Bamberg said the budget shows roughly $300,000,000 in general fund revenues for the year and total expenses of about $311,000,000. "Salaries this year for the budget, we're budgeting $163,000,000. Benefits are right at $80,000,000," Bamberg said, noting roughly 78% of the general fund budget is salaries and benefits. The revised proposal recommends the following transfers out of the general fund: $2,000,000 to the Insurance Reserve Fund; $2,500,000 to the Child Nutrition Fund to reduce its accumulated loss; $12,500,000 to the Committed…
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