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REC adopts 3.22% inflation factor for Millennium Trust earnings and 2.95% CPI for parish severance allocations
Summary
The panel approved a 3.22% inflation factor for the Millennium Trust Fund earnings available for appropriation and a 2.95% consumer price index change to calculate minimum parish severance tax allocations for FY26, both based on Moody's Analytics and staff calculations.
Meeting materials presented an inflation factor of 3.22% for calculating Millennium Trust Fund earnings available for appropriation in FY26, and staff asked the REC to adopt that figure.
"The, inflation rate would be 3.22%. It's in a handout that looks like this, and if you have any questions. And it's based on Moody's Analytics projections," a staff member (Hanford) told the panel.
The REC adopted the 3.22% inflation factor by motion (moved by Doctor Barnes and seconded by President Henry) without objection. The panel also adopted a 2.95% change in the consumer price index for 2024 to calculate minimum parish severance tax allocations for FY26; staff said the CPI figure is based on historical data and Moody's projections.
Both adoptions were procedural votes that set formulas staff and the treasurer will use in calculating FY26 available earnings and parish allocations.
Moody's Analytics was cited by presenters as the data and projection source for both figures.
