AFY20 Budget Revision

Background Information:

General Fund

Revenue Budget

The FY20 20-day count ended October 25, 2019 and the Average Daily Membership (ADM) information was submitted to the state on November 8, 2019. The FY20 ADM, which determines the level of state funding for this year, was reported at 8,535.04 students, which was 145.96 students below the 8,681 students projected for FY20. The count included 7,716.56 students in brick and mortar schools and 818.48 students enrolled in the Connections home school program. The original enrollment projection also included 208 intensive needs students. An additional 16 students were identified as intensive needs and the number of intensive needs students submitted to the state was 224. This preliminary ADM will likely change because of the reconciliation process with other districts and the final ADM will be confirmed by the state in February or March.

The total adjustment to the State of Alaska revenue is $23,975, which includes a decrease of ($236,393) in foundation funding, an increase in one-time funding of $260,977 and a change in the Quality Schools in the amount of a ($609). The total increase in state aid of $23,975 brings the total revenue budget to $145,386,444.

Expenditure Budget

The district reviews actual employees hired in each position in order to adjust salary and benefit accounts from estimates made during the preliminary budgeting process. Total increase to salary and benefit accounts, including the Charter Schools, is $568,535.

Changes to the Charter Schools’ expenditure budgets of $84,239 includes changes to supplies and other expenses due to the recalculation of additional allowable and state aid. An adjustment to other expenses in the amount of ($628,799) for a total change to the expenditure budgets of $23,975 This brings the total FY20 anticipated expenditures to $145,386,444.

Student Transportation

Revenue Budget

The Preliminary revenue budget for Student Transportation was based on 7,928 students at $1,011 per student for a total of $8,015,208. The FY20 20-day, completed in October, has a count of 7,716.56 students eligible for transportation. That reduction of 211.44 students results in a reduction of revenue in the amount of ($213,766) for a total revenue budget of $7,801,442.

Expenditure Budget

The expenditure budget shows an increase in salary and benefit accounts of $4,699 and reductions in travel, supplies and other expenses of ($194,882) for a total expenditures of $7,825,025.

Fund Balance

Since our expenditure budget is more than our anticipated revenue, we will need to use a portion of the Transportation fund balance of $23,583. This amount brings our total revenues and use of fund balance to $7,825,025.