DFY19 Budget Revision 2019-6-3
Item Details
- Meeting
- June 3, 2019 – Board of Education Work Sessions
- Category
- 2. Work Sessions
- Type
- Information item
Public Content
General Fund
This budget revision includes updates to the FY19 Budget to account for decrease in state funding, the decrease in the transfer to food service and the decrease in the use of fund balance.
Revenue Budget
Final FY19 Average Daily Membership (ADM) or student count was received from the State of Alaska. The final count was 7909.81 students in brick and mortar schools, 770.47 students in Connections and 203 Intensive needs students.
The Final FY19 ADM resulted in a decrease in the Foundation and Quality Schools revenue. The Foundation funding decreased $105,669 and Quality Schools funding decreased $248. The combined decrease of $105,917 brings final State funding to $79,299,354.
Expenditure Budget
The FY19 budget includes a transfer to food service for $950,000. Due to increased efficiencies in Student Nutrition, we are able to reduce the transfer by $200,000 for a total transfer of $750,000.
Fund Balance
The FY19 Budget passed by the board in January included General Fund use of fund balance in the amount of $675,755. With the decrease in state funding and a decrease in expenditures, the use of fund balance decreased by $94,083 to a total use of fund balance of $581,672.
Food Service Fund
The revision to the food service fund is to account for the reduction of the transfer from the General Fund. The transfer in will be reduced $200,000 for a total transfer in of $750,000.