Ascension Parish School Board adopts 2017-2018 budget, keeps strong bond rating – The Advocate

GONZALES The Ascension Parish School Board this week adopted its budget for the new fiscal year, which begins July 1, and also amended the budget for the fiscal year about to end, largely because of flood-related expenses.

The 2017-18 general fund budget of $227.5 million is a decrease of $2.6 million from the current fiscal year's amended budget, because of an expected decline of sales tax revenue, as well as state funding, board President Pat Russo said at Tuesday's meeting.

As savings measures for the new fiscal year, the school district is decreasing curriculum expenses by $3 million; not buying any new school buses, saving $3.3 million; maintaining but not expanding its one-to-one computing devices for students, saving $1.5 million; and decreasing major maintenance expenses by $800,00.

The coming budget year, Russo said, also will see several initiatives: the opening of two freshman academies, at East Ascension and Dutchtown high schools, at an annual cost of $850,000; adding staff to the Early College Option for high school students, at River Parishes Community College, at an annual cost of $200,000; and new science curriculum to meet new state science standards, at a cost of $1 million.

The School Board also adopted an amended 2016-17 budget that includes an increase of transfers out of the general fund budget by $33.5 million, primarily for flood-related expenses.

Director of Business Services Diane Allison also reported that the school district has retained its strong AA bond rating by Standard & Poor's, which positively affects the interest rate for the district as it repays bonded debt.

In its report, the bond-rating firm wrote, "The rating reflects our view of the flexibility provided by the district's historically very strong reserves that are now being used to deal with extensive flood damage that occurred in August 2016."

The continued AA rating will save the school district and taxpayers "tens of millions in bond costs," Allison said.

Standard & Poor's said, "We do not anticipate changing the rating during our two-year outlook horizon."

Follow Ellyn Couvillion on Twitter, @EllynCouvillion.

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Ascension Parish School Board adopts 2017-2018 budget, keeps strong bond rating - The Advocate