Board hears year-to-date budget figures and insurance update

Acadia Parish School Board received a fiscal update on Nov. 18 showing year-to-date revenues and spending trends and a report on health and property insurance.

Finance staff presented a snapshot of the general fund through the reporting period: revenues of $24,499,841, or roughly 26.95% of expected collections, and expenditures of $28,934,975, or 31.6% of expected spending. "We're still running a deficit at this time," the presenter said, but staff indicated they expect to close the gap as the year progresses.

On benefits, staff compared the most recent 12-month cycle to the prior year and said expenditures fell by $1,567,037 while premium collections fell by about $1,704,000 after a 5% premium reduction. The presentation noted the Medicare Advantage plan is functioning as intended and that new Blue Cross rates are expected in late April or early May.

On property insurance, staff said the district maintains a schedule of values around $259,000,000 and described a long-standing relationship with its agent; the district's property premium two years ago was $2,016,740 and has declined by $467,000 to $1,549,203 this year. Staff asked whether the board wanted to approve sharing the statement of values with outside agents; board members said they would discuss the matter with the full board before authorizing staff to solicit competing quotes.

No financial motions beyond routine calendar approval were taken on fiscal items during the meeting. Board members asked staff to bring the insurance-agent discussion to the full board at a later meeting so members could agree on a consistent public message if the district decides not to seek additional quotes.