The Saint Tammany Parish School Board's finance department reported a projected surplus of approximately $10 million to $11 million for fiscal 2025 and presented a balanced budget for fiscal 2026 at the Aug. 7, 2025 committee meeting.

Finance Director Miss Prevost (presenting) said revenues for fiscal 2025 were about $3.9 million higher than budgeted, with sales tax revenues up roughly $5 million over the past six months and property tax receipts ahead of projections. Those gains were partially offset by a $4.6 million reduction in the Minimum Foundation Program (MFP) allocation driven by lower student counts.

Miss Prevost told the board that year-end expenditures were below projections in multiple categories and that health insurance experienced an $8 million surplus to date. "As a result, we are projecting, as of today, a 10 to $11,000,000 surplus for fiscal 25," she said. The finance director said the final surplus will be determined around Sept. 15; half the final surplus will be deposited into an employee salary reserve fund and paid to qualifying employees with the Nov. 15 paycheck.

Context and next steps: The FY26 proposed budget, posted online and distributed to board members, anticipates employee raises (certificated staffs and support) and incorporates approximately 47 positions eliminated through attrition, which the presentation estimated would save around $6 million. The public budget hearing was scheduled for Aug. 21, with formal board approval targeted at the September meetings.

Board members responded to the report with relief and caution. School Board Member Mister Cousin noted earlier concern about possible shortfalls and thanked staff for the improved results; Doctor Peterson urged care before making sensitive operational decisions given how quickly revenue projections can change. Miss Hanson praised work on workers' compensation, noting rate reductions and lower claims as part of the improved picture.

Ending: The administration said it will bring final closeout numbers after the Aug. 31 fiscal close and return with final results later this fall. The board will hold a public budget hearing on Aug. 21 before taking adoption votes in September.