St. Mary Parish School Board revenue down 22%
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CENTERVILLE — There was good news and bad news Thursday for the St. Mary Parish School Board.
The good news: The board was able to renew its student accident insurance at a $3,500 annual savings.
The bad news: Sales tax revenue in June plummeted 22 percent below projected levels.
The School Board agreed to renew its student accident insurance with National Union Fire of Camden, N.J.
The policy, which covers medical emergencies and athletes from pre-K through grade 12, was renewed for the year beginning Aug. 1 at a cost of $77,025, down from the 2008-2009 rate of $80,575 for the same coverage.
The renewal was taken on the advice of board insurance adviser Tom Hudson, who said the deal is a good one for the school system.
Those savings will come in handy if the school system’s sales tax revenue continues along the path taken in June.
Chief Financial Officer Alton Perry said sales tax revenue for June were down 22 percent from projected levels, resulting in a monthly deficit of $400,000.
“The budget was projected to be $1.57 million,” he said after the meeting.
“Parish officials are telling me not to expect this to continue … . We have been on budget pretty well until June, but we are not yet in panic mode because things are not expected to be this dramatic.
“But it is scary because (sales tax revenue) could really go down.”
Board President Roland Verret, announcing a budget/finance meeting Tuesday, said the board needs to be cautious with its spending.
“Times are getting tough,” he said. “We need to be frugal in our activities.”
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