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Committee reviews budget-to-actuals, Hurricane Ida costs and audit findings
Summary
The Business Committee reviewed monthly budget-to-actuals through Jan. 31, 2025, heard that Hurricane Ida expenditures total $138.4 million with $64.0 million in FEMA receipts, and received audit findings including noncompliance with the Louisiana budget law and IT control recommendations.
The Business Committee for Insurance, Finance and Transportation met Feb. 19, 2025, and received financial updates from the committee’s finance presenter, Miss Chastain. She told the committee that, through Jan. 31, 2025, the district had collected 59.2% of budgeted revenues — $68,779,837 — and that $45,900,000 of that total came from Minimum Foundation Program funding. "We have collected 59.2% of the revenue budgeted for a total of $68,779,837," she said.
Chastain said 81.2% of budgeted expenditures had been expended or obligated, totaling $128,146,354. She detailed fund-level results, reporting that the 1995 sales tax salary-restricted fund had received 44.4% of its budgeted revenue ($7,792,550) while expenditures were at 106.6%, and that the salary supplement fund had collected 73.6% of revenue ($4,578,502) with expenditures at 97.7%.
Turning to Hurricane Ida response and recovery, Chastain reported $138,376,033 expended through Jan. 31, 2025, and said no additional funding was received in January. She said FEMA reimbursements received to date total $64,044,375, with $14,044,375 of that amount applied toward principal and interest. "The total amount submitted for reimbursement and the total amount obligated by FEMA is $79,076,911," she said, and noted that additional claimed items remain under review or are placeholders pending submission.
Chastain also presented preliminary audit findings from the 2024 annual comprehensive financial report. The first finding related to financial statement closing and presentation; Chastain said the resolution is to review financial information earlier, as close to year end as possible, before delivering materials to auditors. The second finding noted noncompliance with the Louisiana budget law; Chastain said she intends to present any necessary budget amendments prior to June 30 to avoid repeating last year’s post‑June‑30 amendment timing. The third finding concerned information technology and data controls; she said staff will review user access periodically and obtain required third‑party vendor reports (she named Blue Cross, MedWick and Tyler Technologies) that are expected in May and September to resolve outstanding items.
No motions or votes were recorded during these presentations. The committee’s discussion was limited to questions and clarifications; Chastain repeatedly emphasized timing and planned follow-up steps to address audit findings ahead of the final audit.
