St. Landry Schools Anticipate $2M Deficit This Fiscal Year
OPELOUSAS, La. (AP) — The finance director for the St. Landry Parish school district says she is anticipating a general fund deficit of about $2 million when the fiscal year ends Thursday.
Although that amount is about $1 million less than Finance Director Tressa Miller projected in April, she told a Finance Committee Monday the school system can't continue operating effectively with annual deficit spending.
Miller said that as of May 30, St. Landry's operating budget showed excess revenues of about $1 million. However, Miller quickly added she expects a $2.3 million loss in June after paying salaries for employees who work an extra month.
The Advocate reports (http://bit.ly/2906Brx) the district will pay off the 2015-16 general fund deficit by dipping into reserve funding — a situation that she advised should be averted in the future.
Information from: The Advocate, http://theadvocate.com
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