Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Financials topic
No spam. Unsubscribe anytime.
Board approves 2025 budget and financial report, citing balanced projections
Summary
The Louisiana State Board of Medical Examiners approved its financial report through Oct. 31, 2024, and approved the 2025 operating budget, citing a positive fund balance and projected financing of $10,633,065 for 2025.
The Board reviewed financial statements as of Oct. 31, 2024, and approved a 2025 operating budget at the Dec. 16 meeting.
Finance staff reported total assets of $19,686,009.19 and liabilities of $19,000,855.27, with current revenues of $7,883,603 and total expenses of $7,266,386, leaving a positive position of $617,217 for the reported period. Projected means of financing for the 2025 fiscal year were presented at $10,633,065, with revenue sources identified as license renewal and initial fees, fines and penalties, interest income, PHP program revenue, clinical labs and CME fees, and reserves. The budget included a projected 4% average compensation adjustment for eligible staff and continuing retirement rate assumptions.
The board moved and approved the 2025 budget and separately approved the financial report; votes carried with reported tallies including one abstention on the budget roll call. The chair thanked staff for the work; staff noted a planned telephone-system upgrade to improve call reporting and tracking.
