Review of FY24 Budget

The FY24 budget was approved at the April 10^th board meeting.

KPBSD passed the FY24 General Fund Budget including expenditures and transfers of $135,747,454. This included General Fund revenues of $134,925,873 as well as anticipated use of Fund Balance in the amount $821,581. The Kenai Peninsula Borough (KPB) was asked to provide funding at the projected maximum allowable funding amount of $54,753,114 and the State of Alaska funding was based on the Base Student Allocation (BSA) amount of $5,960.

KPBSD is currently waiting on our two main funding entities, the State of Alaska and KPB, to finalize their individual budgets so we can then finalize our FY24 General Fund Budget.

The Legislature is in the process of trying to finalize their FY24 budget, and no date certain is available currently. Two bills were introduced to increase the BSA.

SB52 – Increase BSA $1,000 (Original)

HB65 – Increase BSA $1,250 (Original)

KPB has a meeting on May 2, 2023, that they must provide some kind of budget response to the KPBSD request, or by state statute our request amount will stand. Historically, KPB has set a minimum funding amount at their first May meeting and finalized the amount at a subsequent meeting. KPB has subsequent meetings set for May 16, June 6, and June 20, 2023.

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