Louisiana schools budgets saved by reserves
Reserve funds have balanced the 2012-2013 R-II schools budget and are expected to place the 2013-2014 budget in the black as well.
For 2012-2013, the $7 million budget came in with a $100,000 deficit, but a $3.2 million reserve easily erased it.
“We’re running a deficit but at the same time our surplus has not gone down,” said R-II Superintdent Dr. Richard Basden at the Monday, June 17 board meeting. “It keeps our budget looking pretty good.”
The proposed $7 million draft budget for 2013-2014 “is a worst-case scenario,” Basden said, with a deficit covered by a $3.3 million reserve, which could increase. Without the reserve, the draft budget would leave about a $250,000 deficit, Basden said.
For the full story, see the June 19 print edition of the Louisiana Press-Journal.