DTiered Step Expenditure reductions 2021 3 1
Item Details
- Meeting
- March 2, 2021 – Board of Education and Kenai Peninsula Borough Joint Work Session
- Category
- 1. FY22 Budget Discussion
- Type
- Information item
Public Content
Funding level decisions based on FY22 funding sources.
On February 2, a Joint work-session was held between Kenai Peninsula Borough (KPB) and the school district regarding FY22 Education funding for the school district. The funding level KPB will be able to provide to the School District for FY22 is expected to be under the Maximum Allowable amount. The current budget is based on Maximum Allowable funding from KPB in the amount of $53,080,444. With Maximum Allowable funding from KPB and all other funding sources, our expenditure budget exceeds revenues by $3,283,363. At this level, it is anticipated that we will deplete the unassigned fund balance in FY22.
We will discuss what if the funding from KPB was $3 million below the Maximum Allowable? $5 million? More?
The development of an expenditure plan for different funding levels should be started to address the anticipated short fall in revenues for FY22.
The Tier cut list is presented for review.