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Report: Louisiana could pay off liabilities, invest with reserve funds | Louisiana

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www.thecentersquare.com – By Jacob Mathews | The Center Square – 2024-11-18 12:57:00

SUMMARY: A Louisiana Legislative Auditor’s Office report suggests strategies for the state to improve its financial management by investing reserves and addressing liabilities. The state’s reserves consist of the $1.1 billion Budget Stabilization Fund and the $2.8 billion Revenue Stabilization Trust Fund. The report recommends more aggressive equity investments, which could yield an additional $144 million in returns from 2020 to 2024. It also advocates for reducing the budgetary reserve from $3.8 billion to a recommended $2.2 billion, allowing funds to be used for paying off the state’s unfunded retirement liabilities, thus achieving significant interest savings.

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Audit finds misappropriated funds, accountability issues in Abita Springs | Louisiana

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www.thecentersquare.com – By Jacob Mathews | The Center Square – 2024-11-18 12:08:00

SUMMARY: An audit of Abita Springs revealed significant financial mismanagement, including unauthorized personal purchases by the public works supervisor and finance clerk, involving an estimated $245,000 misappropriated from 2021 to 2023. The investigation is ongoing, with federal authorities involved. The town has filed civil lawsuits and received $150,000 in insurance reimbursements. The audit also noted numerous accounting errors, leading to roughly 20 adjustments, which increased net position by approximately $300,000. The town failed to meet budget amendment requirements and submitted financial reports late. Implementing better controls and adopting fund accounting software were recommended for improved oversight.

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News from the South - Louisiana News Feed

Tracking Sara

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www.youtube.com – WDSU News – 2024-11-17 23:36:52

SUMMARY: Severe weather and possible flooding are anticipated from Monday evening through Tuesday, with impact days declared. Today’s temperatures are around 80 degrees with increasing humidity. Current conditions include lower temperatures in regions like Bogalusa and Franklin, while New Orleans is at 71 degrees. The focus is on Tropical Depression Sara near the Yucatan Peninsula, which is expected to dissipate but has already caused significant rainfall in parts of Mexico, Honduras, Belize, and Guatemala. A humidity plume is expected to affect the area, increasing the potential for severe weather.

Sara is just a tropical depression and will dissipate late Sunday night

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Weather impact days for possible severe weather and flooding

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www.youtube.com – WDSU News – 2024-11-17 23:33:34

SUMMARY: Weather alerts are in effect for the region as severe weather and potential flooding are expected from Monday evening through early Tuesday. Temperatures today are around 80 degrees with increased humidity. The Yucatán Peninsula is experiencing Tropical Depression Sara, which contributes to the moisture building over the area. A flood watch is issued due to possible rainfall totals of three to over six inches. The risk includes isolated strong storms, potential tornadoes, and wind gusts exceeding 58 mph. Cooler temperatures are anticipated after the storms, with lows dropping into the 30s and possible frost on the North Shore.

Meteorologist Devon Lucie steps us through the high resolution forecast over the next two days identifying each risk for severe weather, when the timing of arrival is likeliest for you, how long it will last, and when it will end. diving into the flood threat that could be the greatest impact for the most people showing the ranges of possible rainfall totals, then turns to the extended forecast highlighting the coldest air of the season so far showing you when it arrives, how cold you’ll get, how long it will last, and who has a threat of their first frost while finishing with your seven day forecast.

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