The board on Thursday adopted a $101.8 million General Fund budget that projects a fund balance of about $613,000 by next June 30.
That’s a pittance compared to the budget size, but significant when noting that the year begins with a $1.4 million deficit.
That red ink was reduced from a mid-year projection of almost $4 million by a combination of spending freezes and cuts as well as a Reduction in Force.
The State Bond Commission last month approved the board’s requested to borrow $3.5 million to get it through the rough spots early in this fiscal year.
But parish bankers were only able to put together a package valued at the $2.9 million, according to Marie Tomlinson, speaking for several banks which packaged the bond deal.
The board has been operating under monitoring by the state Fiscal Review Committee since April, when its circumstances required the FRC to enter the picture.
In other business Thursday, District 9 member Scott Richard resigned his post because of the time demands of his new job with the Louisiana School Boards Association.
There are three years remaining in his third four-year term. The board hopes to appoint an interim successor at a special meeting later this month and hold a special election in November for the unexpired term.
Should the board not agree on an appointment within 10 days, Gov. Bobby Jindal will make one.