VACHERIE — St. James Parish government is in “excellent financial condition” with primary government assets increasing $8.3 million over the previous year, an auditor reported.
Michael LeBlanc, a certified public accountant with Postlethwaite & Netterville, who led the parish’s recent audit report, delivered that message to the Parish Council on Wednesday.
According to a report of fiscal year records ending Dec. 31, the parish’s net assets totaled $95,346,931, LeBlanc said.
At the end of 2009, the parish’s net assets amounted to $87,002,280, LeBlanc said.
“That’s a relatively substantial increase,” LeBlanc said.
Other business handled by the council included:
VETERANS EXEMPTION: The Parish Council agreed to move forward a proposed ordinance authorizing an election to be held Nov. 19 for voters to consider an additional property homestead exemption for certain disabled veterans and their surviving spouses.
A constitutional amendment to the state constitution to provide this benefit to certain disabled veterans was approved statewide last year, but requires adoption by individual parishes, according to the ordinance.
The homestead exemption is applicable to the first $75,000 of a property’s fair market value, the Parish Assessor’s Office reported.
The ordinance, if passed in November, would double the deduction to the first $150,000 from certain disabled veterans’ home assessments.
A public hearing will be held on the proposed ordinance at 6:15 p.m. Aug. 3 in Convent.
ALSO ON AGENDA: In three separate motions, the Parish Council unanimously approved ordinances:
• To establish revised parish precincts based on reapportionment figures from the 2010 U.S. census.
• To establish revised polling locations for those precincts.
• To authorize issuance and sale of up to $35 million in parish GO Zone revenue bonds to steel producer Nucor Corp.