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St. James Parish posts clean audit, nets $1.1M and earns GFOA award
Summary
The parish received a clean audit for fiscal 2025, Finance Director Felix Boughton reported a $1.1 million net positive cash impact from recent bond sales, and the Finance Department earned the GFOA Certificate of Achievement. Auditors presented findings and council was advised to submit budget requests by July 31.
Finance Director Felix Boughton summarized the parish's fiscal 2025 audit and recent bond activity after auditors from EisnerAmper presented the report. "The Parish profited 1.1 million," Boughton said, explaining that investor demand on recent bond sales produced favorable premium amounts that improved cash position.
Boughton detailed bond transactions, saying the parish sold $12 million in bonds and received $12.7 million in proceeds and that earlier sales of $6 million yielded $6.2 million; he attributed the favorable pricing to the parish's clean audit and financial position. Parish President Peter Dufresne also noted the Finance Department received the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting, the parish's fourth consecutive year to earn the recognition. Dufresne reminded council members to submit budget requests to the Finance Department by July 31 to allow adequate review time.
