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Caldwell Parish finance update: sales tax dips; district projects roughly $335,000 wider deficit, audit finds no significant issues
Summary
Finance staff told the board sales-tax receipts have been down for several months and the district projects being about $335,000 worse off than last year; the recent audit returned no major findings and the board proposed commending finance staff.
Finance staff presented a multi-page fiscal update to the Caldwell Parish School Board, reporting that sales-tax receipts have declined in recent months and that the district is currently about $335,000 worse off than the prior year.
Staff explained some of the variance is timing-related: the district did not make a large Christmas payout last year, which reduced last year's expenditures and offsets some revenue declines. The lunch fund was reported roughly $122,000 ahead relative to a comparable point last year but staff said the lunch fund may need a $200,000 contribution from the general fund in a future year to remain stable.
On the audit, staff said the agreed-upon procedures returned no exceptions and no significant findings, with only a trivial issue on one schedule. Board members praised the finance department and proposed a unanimous resolution commending staff for accurate and timely work.
Board members discussed the possibility of a spring bonus if sales taxes recover, but no new expenditure was approved at this meeting.
