B.E.E.F. Reaches $50 Million Balance
In 1985, then-State Senator Foster Campbell urged Governor Edwin Edwards to set aside $500,000 in tax revenue from Louisiana Downs to fund a perpetual endowment for Bossier Parish schools. The Legislature passed Campbell’s bill creating the Bossier Educational Excellence Fund, known as BEEF for short. Campbell later amended the BEEF legislation to add state tax revenue collected from Bossier City casinos. What started as a $500,000 investment has now grown to $50 million in just over 30 years. The fund is designed to allow the school system to use the fund’s yearly interest to pay for classroom enhancements. To date, the Bossier Parish School Board has issued $7 million in BEEF grants to purchase computers for students, art education, after-school tutoring and much more. Campbell later used BEEF as the model for legislation creating a statewide Educational Excellence Fund, using $1 billion of the state’s $4-billion Tobacco Settlement. Interest earnings from BEEF are distributed to public and private schools throughout Louisiana each year for classroom instruction.
In The News
- Foster Campbell, Edwin Edwards celebrate Bossier education fund (6/28/2018) - More than 30 years ago, then state-Sen. Foster Campbell lobbied then-Gov. Edwin Edwards for a savings account that would enhance educational programs in Bossier Parish. Campbell, a former teacher, said he didn’t think it made sense that other local governmental entities received some of the tax revenue from Louisiana Downs racetrack but that the school […]
- Bossier Education Excellence Fund grows to $50 Million (6/19/2018) - BOSSIER PARISH, La. – The Bossier Education Excellence Fund was established in 1985 by Foster Campbell, and on Tuesday, June 26 at 11 a.m. Campbell and Bossier Schools will host a news conference and issue a big announcement. This year the fund has a $50 Million roll over, up from $500,000 when the fund first […]