CFY17 General Fund budget revision
Item Details
- Meeting
- June 5, 2017 – Board of Education Work Sessions
- Category
- 1. Work Sessions
- Type
- Information item
Public Content
Background Information:
General Fund
This budget revision includes updates to the FY17 Budget to account for increases in state funding, decreases in expenditures and the decreased use of fund balance.
Revenue Budget
Final FY17 Average Daily Membership (ADM) or student count was received from the State of Alaska. The final count was 8030.27 students in brick and mortar schools and 754.56 students in Connections.
The Final FY17 ADM resulted in a small increase in the Foundation and Quality Schools revenue. The Foundation funding increased $18,678 and Quality Schools funding increased $885. The combined increase of $19,563 brings final State funding to $81,595,174.
Expenditure Budget
Changes to the expenditure budget include an increase in Charter Schools’ revenue budgets of $1,331 based on their ADM. Unfilled Accounting Specialist, Sped Coordinator and Ell tutors resulted in a decrease in salary and benefit accounts in the amount of $325,307.
The transfer to Student Nutrition will be decreased by $100,000 for a total transfer of $1,100,000.
Fund Balance
The FY17 Budget passed by the board included General Fund use of fund balance in the amount of $2,241,628. With the receipt of additional state funding as well as reductions in expenditures, use of fund balance will be reduced by $423,976 to a total use of fund balance of $1,817,652.