3:15 p.m.

Background Information:

Please find attached a spreadsheet illustrating six different items for your review in reference to the KPBSD FY19 General Fund Budget.

Item 1 reviews the initial FY19 GF Budget projections that were shared at the January 15, 2018 Board Meeting. With flat funding assumptions for both State and Borough revenues, the projected General Fund revenues available was estimated to be $138,479,490. Expenditures were estimated using the same staffing patterns and supply formulas as the previous year. General Fund Expenditures were estimated to be $140,887,651. With an additional transfer to the Student Nutrition Services Fund (SNS) of $950,000, expenditures and transfers totaled $141,837,651. This resulted in a beginning GF deficit of $3,358,161. With one third of the Unassigned Fund Balance ($1,318,109) assigned for usage, the remaining deficit was reduced to $2,040,052.

Item 2 reviews the lists of personnel and non-personnel related potential reductions that the administration created and brought forward for review and possible use in the FY19 GF Budget.

Item 3 incorporates the additional one-time funding of $1,405,152 provided by the Alaska State Legislature into the FY19 GF Budget picture. This additional revenue reduced the overall deficit to $1,953,009. After $1,318,109 of Unassigned Fund Balance is designated for usage, the remaining deficit equals $634,900. Item 3 then specifically shows $522,787 worth of FY19 GF expenditure reductions specifically recommended by administration. After these recommended reductions, a deficit of $112,113 remains.

Item 4 reflects the administrative recommendation for the FY19 GF Budget totals if the Borough provides no additional funding. A reduction of $522,787 in expenditures is made as detailed it Item 3, and the $112,113 in remaining deficit is added to fund balance usage, which increases the total usage to $1,430,222. The FY19 GF Budget will have revenues totaling $139,884,642, expenditures and transfers totaling $141,314,864, and a scheduled use of fund balance at $1,430,222.

Item 5 reflects the Administrative recommendation for additional expenditures if the Borough provides additional funding. The recommended additional expenditure amount is $97,609 less the amount of potential revenue from the Borough.

Item 6 reflects the administrative recommendation for the FY19 GF Budget totals if the Borough provides additional funding of $652,609. The FY19 GF Budget will have revenues totaling $140,537,251, expenditures and transfers totaling $141,869,864, and a scheduled use of fund balance at $1,332,613.

Item Details

Public Content