OPB presents preliminary FY25 surplus of $577,073,871; law restricts how funds may be spent

BATON ROUGE — Colleen Gill, director of the Office of Planning and Budget, presented the committee with the preliminary FY25 general fund surplus and explained the statutory constraints on how the surplus may be used.

On the required presentation under state law, Gill said: "This is the meeting which we are required to present the preliminary surplus for FY25. It's estimated to be $577,073,871." She explained that "the surplus can only be spent on 6 items required by the 25% to the budget stabilization, 25% towards the State's unfunded accrued liability, retiring or defeasance of bonds, capital outlay projects, coastal restoration and protection fund, and highway construction projects." She added that surplus funds "cannot be used for ongoing budgetary, operational expenses, or requirements and are limited to the 6 items above."

Representative Marcel asked about a recent legislative change affecting transfers from the video draw poker fund. Gill said the transfer was authorized by "Act 378 of 2025." Committee members approved the fiscal status presentation without objection.