Budget report: general fund receipts at 75.6% and proprietary health funds running deficits

At the April 29 meeting the finance director reviewed budget-to-actual reports for major and non-major funds through March 31, 2026.

For major funds the director reported the General Fund had received 75.6% of budgeted revenue, totaling $87,745,000, of which $57,400,000 was for the minimum foundation program. Expenditures in the General Fund were reported at 83.3% of budget ($136,726,000). The debt service fund had received 117.2% of its budgeted revenue ($12,277,000). The director said she will bring a budget amendment in May to address an over-5% expenditure variance.

On proprietary funds the director said the group health insurance fund was running a deficit of about $7,400,000 and the loss control fund a deficit of about $593,000; those funds have pending transfers from the General Fund that have not yet been posted and may be addressed with an amendment.

Staff also provided a Hurricane Ida financial update: total expenditures and encumbrances through March 31, 2026 were reported at $162,000,835; FEMA reimbursements received in March totaled $93,567 and aggregate FEMA reimbursements were reported as $70,669,867, with $20,669,867 forwarded to Hancock Whitney as a payment; the total amount submitted for reimbursement/obligation was stated as $87,039,298.

The director emphasized continued monitoring and said additional adjustments will be brought forward as needed.