Committee reviews slimmed investments and plans Feb. 23 follow-up as property-tax inflow approaches

Chief Financial Officer Mr. White told the Budget Review Committee that parish investable balances had fallen from roughly $60 million at the prior meeting to about $23–24 million, but that the parish expects another roughly $10 million this month and a larger property-tax inflow in January totalling about $115–120 million.

"Every year just from a cash flow standpoint, January is always our high water mark and December is our low water mark," Mr. White said, explaining that the timing of property-tax receipts drives monthly investment capacity. He added that the amount available to invest matters more than small changes in interest rates: "The interest rate itself is not as important as the amount of money we can actually put into the investments."

In a recent conversation with the district’s investment advisor at Meter, Mr. White said the advisor recommended considering short-term commercial paper for a portion of funds the parish would not need for six to nine months. "He was suggesting that we see what we can put aside once we receive those property tax revenues," Mr. White said.

Committee members asked how receipts would be allocated across accounts and whether there are formulaic allocations; Mr. White said allocation decisions would follow existing policies and the board’s direction and that staff would present specifics in future budget-forecast materials. Members also requested updates on the ITP schedule, industrial-project timelines and potential effects of a proposed constitutional Amendment Two on protected funds and teacher-retirement liabilities.

The committee set topics for the next meeting (Feb. 23): a budget forecast, sales-tax update, investment update, and an industrial-project timeline review. Staff were asked to return with the requested details.