(The Center Square) – Many major fund balances of Caddo Parish in Louisiana are in the negative, according to the August financials.
The Caddo Commission will review its monthly financials year-to-date during Monday’s work session meeting.
With the largest portion of general revenues for the year coming from ad valorem taxes, the parish has budgeted over $12 million in general revenues, approximately $1 million less than the prior year. There is an estimated $4.5 million in ad valorem taxes within the city and $4.2 million outside the city for the general fund.
In total, the parish is in a $3.5 million deficit year-to-date, with general fund revenues at $6.9 million but expenses at $10.5 million. According to the total budgeted amount for the year, this should balance out with $19.4 million in revenue and $18.8 million in expenses, leaving a net gain of $548,960.
The Detention Facilities Fund, which includes the Caddo Correctional Center, is also in the negative by $6.2 million. While the parish is anticipating this to decrease, there will still likely be a loss of $1.5 million at the end of the year. The Juvenile Justice Fund sits similarly, with an estimated $1.2 million loss for the year. Year-to-date, the fund has $2.5 million in losses, having expensed $5.6 million so far, with only $3 million in revenues. Last year, the fund had a net gain of a little under $1 million.
Apart from fund revenues and debt, the report details commission salary data and travel expense budgets.
Salaries for commissioners total $273,710 for the year, with $178,954 being expensed year-to-date. Also under commission expenses include a $65,000 budget for education, travel and training. To date, $16,366 has been spent in this category. Other expense categories for the commission include parking fees, legal and auditing, official publications and dues. The commission department’s total expenses are budgeted at $856,164 for the year, with $479,024 having been spent so far.
The Caddo Commission releases the parish financials each month during a scheduled work session meeting.
