The Caddo Parish School Board has adopted a balanced budget for the coming school year without draining its fund balance.
The announcement was made last Tuesday night. Schools spokesman Victor Mainiero said that district generally has had to use its fund balance in order to adopt a legal budget.
This year, the district's fund balance is expected to end at $20,605,813.
For the first time in more than 10 years, the amount of money budgeted is more than the amount of money to be spent. Revenue for the 2014-15 school year is projected at just more than $3.9M, while expenditures are budget at $105,813 less, Mainiero said.
District CFO Jim Lee said increased revenue, especially a 2.75 percent uptick in MFP state funding, coupled with less spending, was a major factor in balancing the budget.