(The Center Square) — Louisiana’s state-dedicated funds saw over a more than 100% increase from 2020 to 2024, or double, according to a report.
The Louisiana Legislative Auditor’s Office writes an informational brief every four fiscal years that provides information on the accounting system cash balances in the state’s constitutionally- and statutorily-dedicated funds.
This report updates the information contained in the February 2016 informational report. The purpose of the report is to provide information on the amount of cash carried over from each fiscal year to the next in the state’s accounting system.
According to the report, the year-end system cash balances in the state’s dedicated funds rose from $7.9 billion at the close of fiscal year 2020 to $16.3 billion at the close of fiscal year 2024, which is dated Sept. 30. That’s a 106% increase.
This excludes the state General Fund Direct, as well as federal funds, self-generated, and interagency transfers in the state general fund.
The five funds that grew the most are all partly or fully dedicated to infrastructure. The revenue stabilization trust fund is the largest total, growing from $31 million to $3.5 billion.
The construction subfund had the most growth going from $3 million to $653 million, or a 21633% growth. The water sector fund and mega projects leverage fund are both new, so of course they grew exponentially.
Meanwhile, the five funds that shrank the most are dedicated to health care, infrastructure, wildlife and fisheries and education.
The Medicaid trust fund for the elderly is the smallest total of the five and had the largest percentage drop, going from $35 million to $2 million. That’s equivalent to a 95% decrease.
The state highway improvement fund, conservation fund, medical assistance trust fund, and lottery proceeds fund were the other four.
