AFY21 Budget Revision
Item Details
- Meeting
- January 11, 2021 – Board of Education Meeting
- Category
- 11. Action Items
- Type
- Action item
- Recommended action
- The Administration recommends the approval of the FY21 Budget revision.
Motions
The Administration recommends the approval of the FY21 Budget revision.
Moved by Mike Illg · Seconded by Penny Vadla
Yes: Debbie Cary, Greg Madden, Jason Tauriainen, Matt Morse, Mike Illg, Patti Truesdell, Penny Vadla, Virginia Morgan, Zen Kelly
Public Content
General Fund
Revenue Budget
The FY21 20-day count ended October 23, 2020 and the Average Daily Membership (ADM) information was submitted to the state on November 9, 2020. The FY21 ADM, which determines the level of state funding for this year, was reported at 7,758.64 students, which was 814.36 students below the 8,573 students projected for FY21. The count included 6,014.84 students in brick and mortar schools and 1,743.80 students enrolled in the Connections home school program. The original enrollment projection also included 215 intensive needs students. The number of intensive needs students submitted to the state was 194, a decrease of 21. 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 ($1,466,650), which includes a decrease of ($1,470,800) in foundation funding, and a change in the Quality Schools in the amount of a $4,150.
The original FY21 budget listed anticipated use of fund balance at $5,791,384. With the changes to revenues listed above and expenditures explained below, there is a need for an additional use of fund balance in the amount of $412,649. This will bring use of fund balance to $6,204,033 and total revenue and use of fund balance to $144,481,840.
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 decrease to salary and benefit accounts, not including Charter schools, is ($2,258,824).
Changes to the Charter Schools’ expenditure budgets of ($445,177) includes changes to salaries/benefits, supplies and other expenses due to the recalculation of additional allowable and state aid.
With the increase of over 900 students above projected students attending the Connections Home School program an increase in the student allotment amounts for $1,500,000 and additional computer needs of $150,000 for a total increase to the Connections Home school budget of $1,650,000.
This brings the total FY21 anticipated expenditures to $144,481,840.