(The Center Square) – A proposed draft budget of $426 million for the general fund is under consideration by the Caddo Parish School Board.
Final vote for the budget comes next month. The biggest change reported was the drop in special revenue fund expenditures from $352 million to $87 million. The general fund, capital project funds, and debt service fund are relatively the same as last fiscal year.
The proposed general fund budget for the next fiscal year anticipates $245 million in revenue from local sources, $177 million from state sources, $4 million from federal sources and $50,000 from other sources, totaling $426 million in revenues.
The general fund budget is balanced, with expenditures sitting around the same amount as revenues.
The total expenditures for instructional services are projected to be $279 million. Other areas in expenditures include $9 million for general administration, $22 million for school administration and $51 million for operation and maintenance, totaling $426 million in expenditures.
About 57% of the revenue comes from local sources, according to the budget report, while 41% comes from state sources. Only about 1% of revenues for the general fund come from federal sources.
Currently, the millage rate collected is 55.8 mills. The school board anticipates this to stay the same, as well as the school board sales tax rate of 1.5%. These are classified as local sources of revenue. The proposed budget shows the collection of $126 million in property taxes and $106 million in sales tax.
To prep the budget, the process begins in December and moves through January. As February approaches, departmental budget reviews begin while reviewing staff needs for the next fiscal year.
By May, a working draft is sent to the board and made available to the public before the work session. After a few scheduled work sessions, a public hearing is held in June to enact the budget for the next fiscal year by July 1.
