Orleans Parish finance committee previews proposed $43M general fund, flags audit fixes and revenue-anticipation note

CFO Naisha Veil presented March 2026 financials to the Orleans Parish School Board budget and finance committee on May 19, saying the district brought in “a little over $3,200,000” in revenue for the month against a budgeted $3,100,000, while expenditures ran about $5,193,000 compared with a budgeted roughly $3.7 million. Veil told the committee that an interfund transfer of about $1,500,000, recorded in March, explained much of the higher expenditures.

Veil reported an unaudited general fund balance of approximately $102,900,000 as of March 31 and said deferred revenue will be paid out next month and reflected in the June unaudited financials. She described the proposed general fund budget as “a little over $43,000,000” and said the district is aiming for at least 12% in systemwide reserves.

The CFO outlined the Leah Chase School Sustaining Fund, which has collected $2,227,400 year-to-date. “We’ve decided to split it in half,” Veil said, proposing $1,113,000 allocated in each of the first two years for community engagement, marketing, teacher support, recruitment, STEM events and intervention services.

Veil also summarized pass-through funding and per-pupil estimates. She said the DLFA figure looks to be about $509,000,000 and that adding roughly $54,700,000 in state level 3 and 4 funds yields an average per-pupil cost of about $12,100; when level 3 and 4 funds are included the figure rises toward $13,402 per student. Veil clarified that the additional state dollars referenced were continuation of prior-year pay raises and school-specific funds — not teacher stipends.

On audit items, Veil said management-area improvements are underway — including investment compliance, cash collections and subrecipient monitoring — and that staff will submit a June budget amendment to include a previously omitted revenue anticipation note “so we can be in compliance.” She identified that revenue anticipation note in the presentation at about $50,000,000.

The proposed budget will be posted at the district reception desk and on the district website, and the committee has scheduled a special budget hearing on June 4 before final consideration. Board members were invited to sign up for one-on-one briefings with budget staff prior to the hearing.

The committee heard clarifying questions from members and asked staff to provide additional detail on pass-through accounting and the district-authorized 2% fee; Veil responded that the DLFA figure was presented before the 2% fee and that the 2% will be accounted for separately.

The committee took no final adoption action on the budget at the meeting; the next procedural step is the June 4 budget hearing and then consideration by the full board.