Vermilion Parish School district in good financial shape

Vermilion Parish’s public school district is in good shape financially compared to Lafayette Parish’s school district.
Lafayette Parish is facing a deficit of $23.5 million and looking at laying off 100 people, including teachers, counselors and administrators.
That is not the case for Vermilion Parish’s school district. Every employee received a one-time $520 check from the state, and the School Board approved a 13th check for its employees.
At the Monday night committee meeting, accountant for the school board, Phillip Sellers, reported that the school system will be financially balanced.
“That is all I want,” said Sellers about having a balanced budget.
Vermilion Parish’s operating budget is 1/3 of Lafayette Parish’s budget. Lafayette has a budget of $272 million, while Vermilion’s is $90 million.
Because Vermilion school system is going to complete the 2013-14 school year in good shape, the school board decided to award every employee a 13th check. The 13th check is a bonus check given to employees when the school system can afford it. The extra check is 2 percent of the employee’s yearly salary.
It has been two years since employees received a 13th check.
Also, all employees in the school system received a $520 one-time check from the state. The two reasons why the school district has a balanced budget are because sales tax revenue collected is about the same as last year, and oil and gas revenue from 16 Section Land is at a six-year high.
Sales tax this year in the parish saw a slight increase, which is always a positive.
The school district does not budget revenue from 16 Section Land because it fluctuates. Some years they collect $3 million and other years, like this year, they collect $6 million.
With the extra $6 million, Vermilion was able to use the money to offset increases in retirement contributions, along with other expenses that were not projected by the school system.
School superintendent Jerome Puyau was happy to hear the school system is financially sound.
“We have been fiscal responsible,” said Puyau.
One way of being fiscal responsible is by being able to purchase school items at a lower price, thanks to the buying power the Vermilion school district has created by teaming up with other school districts in the state.
Sellers projects next school year to be the same as this past school year, which is also good news.