By Jim Wilkerson
The Lincoln Parish School Board received some good news this Tuesday when it met to discuss the budget for the fiscal year 2020 (FY 2020). Chief Financial Officer Juanita Duke presented a 58-page report (below) that detailed the board’s total revenues and expenditures, which revealed a positive ending balance for FY 2020.
The School Board’s total general funds went up by $3,992,909, from an ending balance of $14,149,057 for July 1, 2020, to an ending balance of $18,141,966 for June 30, 2021.
A large portion of the increase came from the 2020 sales tax. This added 0.5 percent to the School Board’s tax rate (from 2 percent to 2.5 percent), thereby increasing the overall sales tax for Lincoln Parish from 5.5 percent to 6 percent. Ultimately, the 2020 sales tax brought in $3,824,394 in general revenue for FY 2020.
In addition to the boost in the sales tax, the School Board received $5,099,277 of special revenues in the form of education stabilization funds. This money came from outside entities (CARES Act funds, etc.) to help Lincoln Parish schools weather COVID-19. The School Board also received $1,356,601 in state and federal funds that helped increase total special revenues from $13,749,834 to $18,280,372 for FY 2020.
Total revenues ended up being an estimated $90,740,623, while total expenditures were $79,063,360, meaning the School Board ended the year in the black with $8,523,447 added to its balance. Roughly 82 percent of total expenditures went to teachers’ salaries ($42,284,571) and employee benefits ($22,793,103).
With news of the increase in funds, Debbie Pender, the technology coordinator for the board, requested that more funding go to her program to advertise for interactive panels and peripherals. The School Board unanimously approved Pender’s request, and also approved the normal allocation of funds for fall instructional supplies.
The budget report for July 1, 2020 – June 30, 2021, here:
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