Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Revision 2425 topic
No spam. Unsubscribe anytime.
Livingston Parish School Board approves 2024–25 budget revision, plans use of reserves for thirteenth check and capital projects
Summary
The board approved the 2024–25 revised operating budget, which projects a $10.9 million current-year general fund deficit and uses prior-year surpluses and restricted reserves to cover planned spending including a $7 million 'thirteenth check' payout and bus purchases/retrofits.
The Livingston Parish School Board voted to approve a revised 2024–25 operating budget that projects $273 million in general fund revenues against $284 million in expenditures, producing a current-year deficit of about $10.9 million offset by prior-year surpluses and reserves.
Mr. Purvis, presenting the revision, told the board the general fund projection shows a $273,000,000 revenue estimate and $284,000,000 in expenditures "which leaves us with a current year deficit of 10,900,000.0." He said the district has a prior-year surplus of $74,800,000, leaving a net surplus of $63,900,000; about $27,800,000 of that is in restricted reserves and a designated surplus of roughly $36,000,000.
The revision budgets a thirteenth check projected at about $7,000,000 (to be distributed in May). The board was told part of that will be paid from the restricted second-sales-tax reserve (about $4,300,000 set aside) and the remainder from other surplus funds. Other notable changes include $700,000 for increased health insurance premiums, $963,000 in purchased professional services tied to state-designated high-dosage tutoring (with matching state revenue), and a $500,000 increase in other purchased services to pick up programs previously covered by ESSER funds. Purvis said some buses will be purchased and some leased and that bus retrofits are budgeted in this year.
Board members discussed the importance of a renewal 7-mill property tax (to be on the May ballot) that pays for routine maintenance projects under $250,000. The presenter said the maintenance fund requires a $4.8 million transfer from the second sales tax to cover projected expenditures; without that transfer, the maintenance fund would not be able to sustain routine repairs. The construction fund projection shows revenues of about $13.6 million and expenditures near $32.1 million, producing an $18.4 million current-year deficit offset by prior-year surpluses.
On federal and state funding, the board heard that federal program changes reported in national news (possible reallocation of some DOE programs) are not yet finalized and the district is awaiting guidance; the presenter said the funds discussed had not been frozen and the state is monitoring the situation.
A motion to accept the 2024–25 budget revision was made by Mister Phil and seconded by Mister Lehi. The board approved the motion by voice vote.
The board also reviewed projections for the second sales tax, sinking fund, school food service, disaster fund and federal programs; presenters noted some funds are essentially pass-through (federal/state grants) and several enterprise or restricted funds project surpluses or deficits to be covered by prior-year balances.
