(The Center Square) — A recent audit showed that $780 was misappropriated from the cheer funds at Keithville Elementary Middle School.
The misuse of Caddo Parish School Board funds was made public after an audit was conducted by the Louisiana Legislative Auditor for the fiscal year 2023-2024. According to the report, an outside cheer coach and cheer sponsor misused the funds for Keithville Elementary Middle School.
The internal audit reported the $780 was paid to an outside cheer coach. After noticing the missing funds, the school board notified the Caddo Financial Crimes Task Force, the Louisiana Board of Ethics and the auditor’s office. While the funds were reported missing, the auditor clarified in the report that the cheer coach repaid the missing money, which resulted in the case being closed.
For 2023-2024, the school board deficit decreased by $100.7 million. According to the audit, the ending balance reported for governmental funds was $283 million. The reported balance presented an increase of $61.5 million from the prior year.
The governmental funds of the Caddo Parish School Board saw $635.1 million in total revenues. The audit noted that 68% of this revenue was from three sources — $163.2 million from Louisiana’s Minimum Foundation Program funding formula, $161.3 million from local ad valorem taxes, and $107.3 million from local sales and use taxes.
The ending fiscal year balance of the general fund was $215.8 million, which consisted of $.5 million that was not spendable, $21 million reserved for future claims, contingencies and equipment replacement along with $194.3 million available for spending.
The Caddo Parish School Board consists of 53 schools with approximately 33,000 students. The 53 schools range from pre-kindergarten through 12th grade. According to Louisiana law, a financial statement must be presented to the auditor’s office no more than six months after the end of each fiscal year.