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Board approves fiscal agency agreement and receives financial forecast showing ~$4M in potential reserve
Summary
Beauregard Parish School Board approved its annual fiscal agency agreement naming six local banks and received a preliminary financial report indicating roughly $4 million could move to a holding reserve after year-end close; the board noted differences in two sales-tax accounts and summer payroll timing.
The Beauregard Parish School Board approved its annual fiscal agency agreement for fiscal year 2026-27 at the July 9 meeting and received the district's monthly financial update.
A presenter read portions of the agreement and confirmed the district will continue using six local banks as fiscal agents: 1st National, Chase, Sabine, 1st Federal, Beauregard Federal and 'B1' (as spoken in the transcript). The agreement cites statutory authority under La. R.S. 39:1213. The board approved the agreement by motion (moved by Miss Weldon and seconded by Mister Orchill).
In the financial report that followed, staff said the district had not yet closed its books for the fiscal year but forecasted roughly $4,000,000 that could be moved into a holding reserve pending final adjusting journal entries, encumbrance clearances and payroll processing. Presenters noted Sales Tax 66 appeared to be increasing while Sales Tax 90 collections were down; staff said they had asked a colleague (Mr. Bo Victor, per the transcript) to investigate the variance and had placed related correspondence in board packets.
Officials also explained timing for summer payroll: direct deposits for certain summer payments may be issued ahead of pay dates to close the fiscal year, although actual pay dates remain July 28 and August 28.
The board did not alter finance policy at the meeting but approved routine administrative items and directed members to contact finance staff with follow-up questions.
