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Committee approves mid‑year budget revisions and disaster‑fund original budget; FEMA reimbursements cited
Summary
Committee recommended approval of revised 2024–25 budgets for major funds and approved an original disaster-fund budget anticipating roughly $12 million in FEMA reimbursements for hurricane repairs; motions moved and seconded and approved with no objections.
The Finance, Insurance and Section 16 Lands Committee recommended that the board approve several budget items, including mid‑year revisions to major funds and an original budget for the disaster fund for fiscal year 2024–25.
Miss Klingman, supervisor of finance, presented mid‑year budget revisions for the general operating fund, child nutrition program fund and multiple sales‑tax funds. She said the State Department of Education had finalized allocations for special‑revenue funds and that released balances were being added to the district’s budgets at mid‑year.
Miss Burrow presented the disaster‑fund original budget for fiscal year 2024–25, explaining the budget lists ongoing repairs and change orders for projects approved previously and projects nearly complete. She said the district has received about $8 million in FEMA cash to date and expects about $12 million in FEMA reimbursements by June 30 as additional claims are finalized.
Committee members noted the district had paid off earlier bonds, freeing local revenue capacity for other projects. The committee recommended adopting a resolution authorizing staff to proceed to secure financing for Terrebonne High School (separate item) and approved the budget recommendations for the revised budgets and the disaster fund. Motions to approve the revised budgets and the disaster fund original budget were moved and seconded and recorded as approved with no objections.
The committee asked staff to continue to monitor FEMA reimbursements and to present budget updates as projects progress; some large reconstruction projects remain in planning and are not yet budgeted in the disaster fund.
