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Board hears FY25 final budget revision showing $2.13 million positive variance; sinking‑fund and reserve allocations noted
Summary
A district budget presenter reported a FY25 final revision with an excess revenue of $2,131,131, proposing $419,112 to reserves and about $1.7 million to the parishwide sinking debt fund; the board discussed calculation methods and next audit steps.
An unnamed budget presenter told the Beauregard Parish School Board the district's final revision for fiscal year 2025 shows an "excess of revenue of $2,131,131," explaining that $419,112 of that would be placed into reserves for capital needs and approximately $1,700,000 into the parishwide sinking debt fund.
The presenter said the sinking debt amount reflects a formula based on annual revenues, prior principal payments and interest schedules and noted coordination with 'Mister Grant' on the calculation. "We are in the positive of that $419,000," the presenter said while outlining next steps for closing journal entries and the upcoming budget board meeting needed to finalize figures for the audit.
Board members asked for clarification about how the sinking fund share was derived. The presenter responded that the amount is determined from revenues, what was put out for principal in prior years, and remaining balance after the first interest payment in September.
No formal vote to adopt the final revision is recorded in the transcript; the presenter said the board will vote at the budget board meeting next month and that the audit process has already started.
