DFY22 Budget Revision

General Fund

Revenue Budget

The FY22 20-day count ended October 22, 2021, and the Average Daily Membership (ADM) information was submitted to the state on November 5, 2021. The FY22 ADM, which determines the level of state funding for this year, was reported at 8,301.07 students, which was 440.07 students above the 7,861 students projected for FY22. The count included 7,130.26 students in brick-and-mortar schools and 1,170.81 students enrolled in the Connections home school program. The original enrollment projection also included 196 intensive needs students. The number of intensive needs students submitted to the state was 208, an increase of 12. 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 $2,644,365, which includes an increase of $2,637,249 in foundation funding, and a change in the Quality Schools in the amount of a $7,116.

The Kenai Peninsula Borough (KPB), through the American Rescue Plan Act of 2021, provided an additional $2,000,000 in funding for the local education contribution bringing the total amount of support from KPB to $50,000,000.

The total revised revenue budget is $136,048,255.

Expenditure Budget

The district reviews actual employees hired in each position to adjust salary and benefit accounts from estimates made during the preliminary budgeting process. In December a budget revision was brought to the board which did not include clearing out the lapse salary and benefit accounts in the amount of $1,927,147 along with other adjustments to the salary and benefit accounts of $1,614,8358. A total increase of $3,541,985.

Other expenditure adjustments to the district wide software account and purchased services, for a reduction of other expenditures of ($134,216).   

This brings the total FY22 anticipated expenditures to $136,048,255.

Use of Fund Balance

With the changes to revenues and expenditures, we are presenting a balanced budget and we do not anticipate using fund balance in FY22.

Student Transportation

Revenue Budget

The FY22 transportation revenue budget is based on 6,572 students in our brick-and-mortar schools   times $1,011 per student for a total of $7,208,430.

Expenditure Budget

Adjustment to the expenditure budgets include salaries and benefits to actual, supplies and purchased services for a reduction of ($58,511). Total expenditure budget of $7,979,771.

Use of Fund Balance

Revenue for the FY22 Revised Student Transportation Budget totals $7,208,430 and since expenditures $7,979,771, it is necessary to use fund balance in the amount of $741,341.

Food Service

Revenue Budget

The FY22 Food Service revenue budget from all sources is $3,979,904.

Expenditure Budget

Adjustment to the expenditure budgets include salaries and benefits to actual for an increase of $42,240, for a total expenditure budget of $3,979,904.

Use of Fund Balance

With the changes to revenues and expenditures, we are presenting a balanced budget and we do not anticipate using fund balance in FY22.