AFY23 Budget Revision for the General Fund, Student Transportation and Student Nutrition Services

FY23 Revised General Fund Budget

Revenue Budget – General Fund  

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. The final reconciliation of the intensive needs students reduced our count by 2, for a total of 208.

The reduction in the intensive needs students reduced our State of Alaska revenue by ($154,596) for a total of State Foundation revenue of $73,933,936.

The total revised revenue budget is $138,279,075.

Expenditure Budget – General Fund

The expenditure budget is budgeted at $138,433,671. 

Fund Balance

Since our expenditure budget is more than our anticipated revenue, we have budgeted the use of fund balance of $154,596. This amount brings our total revenues to $138,433,671.

FY23 Revised Student Transportation Budget

Revenue Budget – Student Transportation

The Preliminary revenue budget for Student Transportation was based on 7,324 students at $1,011 per student for a total of $7,404,564. The FY20 20-day, completed in October, has a count of 7,305.58 students eligible for transportation. That reduction of 18.42 students results in a reduction of revenue in the amount of ($18,623) for a total revenue budget of $7,385,941.

Expenditure Budget – Student Transportation

The expenditure budget shows reductions in travel, supplies and other expenses of ($100,749) for total expenditures of $7,935,941.

Transfer In

Since our expenditure budget is more than our anticipated revenue, we have scheduled a general fund transfer of $550,000. This amount brings our total revenues and transfer to $7,935,941.

FY23 Revised Student Nutrition Services Budget

Revenue Budget – Student Nutrition Services

The Preliminary revenue budget for Student Nutrition includes $675,000 for paid lunch revenue, $2,604,904 for free and reduced reimbursements, $150,000 USDA for a total revenue of $3,429,904. 

Expenditure Budget

The expenditure budget has an increase of $6,198 for salary and benefit adjustments, bringing the total expenditure budget to $3,986,102.

Fund Balance

Since our expenditure budget is more than our anticipated revenue, we have budgeted the use of fund balance in the amount of $556,198.  This amount brings our total revenues and transfer to $3,986,102.