AFY23 Budget Revision
Item Details
- Meeting
- January 9, 2023 – Board of Education Work Sessions
- Category
- 4. Finance Update Work Session
- Type
- Information item
Public Content
Revenue Budget
The FY23 20-day count ended October 28, 2022, and the Average Daily Membership (ADM) information was due to the state on November 5, 2022. The FY23 ADM, which determines the level of state funding for this year, was reported at 8,369.56 students, which was 59.44 students below the 8,429 students projected for FY23. The count included 7,305.58 students in brick-and-mortar schools and 1,063.98 students enrolled in the Connections home school program. The original enrollment projection also included 201 intensive needs students. The number of intensive needs students submitted to the state was 210, an increase of 9. 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 $498,263, which includes an increase of $496,868 in foundation funding, and a change in the Quality Schools in the amount of a $1,395.
The total revised revenue budget is $138,433,671.
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. Total decrease to salary and benefit accounts, not including Charter schools, is ($1,077,778).
Changes to the Charter Schools’ expenditure budgets of $396,607 includes changes to salaries/benefits, supplies and other expenses due to the recalculation of additional allowable and state aid.
Other expenditure adjustments include, Middle College tuition and books, district-wide copiers, contracted services – OT/PT, Speech, Nursing, Hearing and Visually impaired, AED devices, Charter school rent and in-kind offset. Other adjustment to expenditures total $1,144,434.
Included in the budget revision is a transfer to the community theater fund. During COVID, the school board meetings were held in the Kenai Central High School theater. The temp and overtime costs for the theater staff depleted their fund balance. To restore them to the levels prior to COVID, we are requesting a transfer of $35,000.
This brings the total FY23 anticipated expenditures to $138,433,671.
With these changes to revenues and expenditures, we do not anticipate using fund balance in FY23.