HFY20 Budget Revision
Item Details
- Meeting
- June 1, 2020 – June 1, 2020 Board of Education Meeting
- Category
- 10. Consent Agenda
- Type
- Action item
- Recommended action
- Administration recommends approval of this FY20 Budget Revision.
Motions
Move to approve Consent Agenda items 10 B-H
Moved by Zen Kelly · Seconded by Patti Truesdell
Yes: Debbie Cary, Jason Tauriainen, Matt Morse, Mike Illg, Patti Truesdell, Penny Vadla, Virginia Morgan, Zen Kelly
Public Content
General Fund
Revenue Budget
Each year the School District estimates the maximum allowable funding that KPB can provide to the District. Based on the FY20 projected student enrollment of 8,681 and 208 intensive needs students, the estimated Maximum Allowable for FY20 was estimated at $52,537,091. During the twenty-day student count, conducted in October, and the final reconciliation by the Department of Education and Early Development in March, our official count of students is 8,535.04 and 224 Intensive needs, which sets the Maximum Allowable funding that KPB could provide to the School District at $52,489,253. KPB Ordinance 2019-19 provided funding to KPBSD in the amount of $52,512,091 which exceeds the cap by ($22,838).
The State of Alaska provided One-Time funding in FY19 and FY20. In FY20, the amount provided to school districts was $30M. The amount each school district received is based on the Adjusted Average Daily Membership. We received funding of $2,105,854, which is a decrease of ($255,135) from the adjusted budget.
The total revenue budget is $145,108,471.
Expenditure Budget
An adjustment to the expenditure budget, so that expenditures equal revenues, in the other expenses category of ($277,973).
The total expenditure budget is $145,108,471.