State budget crisis may hit school finances

The state budget crisis may dip into the St. Landry Parish School Board finances.
During the Board’s Finance Committee meeting on Monday, Tressa Miller, finance director, said the state may pull back $35,000 in Racino funds.
The Racino fund, which is from Evangeline Downs, is a dedicated fund, which legislators are dipping into in an effort to balance the state’s budget, she said.
The Legislature created dedicated funds such as the Racino Fund, so legislators can change it, she said.
The Board’s Executive, Buildings Lands and Sites and Finance committees met Monday at the School Board office.
There is nothing definite about what legislators might do with the Racino Funds, she said.
The Board projected a $220,00 decline in Racino funds in its current budget.
Miller said sales tax revenues are slowing and the school system is probably looking at a decrease in its Minimum Foundation payments, which are based on the number of students.
Finance Committee members spent much of the meeting reviewing the finances in terms of an annual audit the approved in January. The audit was for the year ended June 30, 2015.
Miller was joined by Casey Ardoin, an auditor with Kolder, Champagne, Slaven and Company, to explain finances.
According to the audit, the school system ended its fiscal year on June 30, 2015, with a total revenues of $142.7 million and expenditures of $143.4 million, which resulted in a deficiency of revenues over expenditures of about 700,000.
The deficiency include a $2.4 million Christmas stipend paid to employees and $2.6 million for the purchase of 35 school buses and a backhoe.
The school system borrowed the money for the school buses and backhoe. The money for the Christmas stipend was taken from the Employee Compensation Benefit Fund, a fund dedicated to employee pay.
Ardoin said, “You bought a bunch of assets that are going to benefit you for years to come,” of the buses and backhoe.
In report on the school system’s general fund on Jan. 31, the Board has $16.3 million in cash and investments. The employee compensation fund has $4.8 million.
Miller dispelled any notion of a surplus by reporting the the school system pays about $10 million a month in salaries and benefits.
A report on school activity funds for the 2015 fiscal year was presented at the meeting. The funds include fees from registration, fundraisers to tickets to athletic events.
The school system activity funds began the fiscal year with a total of $2.1 million, collected $4.5 million and made payments of $4.6 million. The year ended with a total ending balance of $2 million. Total investments were $183,000.
Activity fees at Eunice schools were:
Central Middle: $20,774, beginning balance; $28,741, total receipts; $33,764, total payments; and $15,751 ending balance.
East Elementary: $22,714, beginning balance; $55,1612, total receipts; $59,627, total payments; and $18,249, ending balance.
Eunice Elementary: $37,157, beginning balance; $42,816, total receipts; $52,195, total payments; $27,778, ending balance; and $12,574, total invest.
Eunice High: $109,815, beginning balance; $579,181, total receipts; $591,506, total payments; and $97,491, ending balance.
Eunice Junior High: $33,222, beginning balance; $148,572, total receipts; $131,469, total payments; and $50,334, ending balance.
Eunice Vocational Education: $17,237, beginning balance; $9,167, total receipts; $11,306, total payments; $15,099, ending balance; and $10,655, total invest.
Glendale Elementary: $13,694, beginning balance; $52,381, total receipts; $56,605, total payments.
Highland Elementary: $6,247, beginning balance; $31,796, total receipts; $33,703, total payments; and $4,341, ending balance.
Albert Hayes Jr. requested the activity report. Hayes has been critical of the amount of money collected for the activity funds.
Miller said a more detailed report on the activity funds is being developed.
Ardoin said the Legislator Auditor’s Office guidelines are stressing the importance of controls and accountability regarding the student activity funds.