FY25 Preliminary Budget

Revenue

State of Alaska revenue projections for FY25 were created using $5,960 as the Base Student Allocation (BSA) in the State of Alaska Foundation Funding Formula.

The student enrollment projection of 8,230 for FY25, listed in the Five-Year Enrollment Projection document, was used in the Foundation Formula to calculate estimated state revenue.

State revenues include $66,915,412 for Foundation Funding, $268,635 for Quality Schools funding, and on-behalf payments of $7,132,899 for a total State funding of $74,316,946.

Administration has budgeted KPB support in the amount of $58,170,974. In-kind services are budgeted at the same level as FY24 of $14,292,451 and $43,878,523 as appropriation.

Other budgeted revenues include e-rate, interest earnings, and miscellaneous for a total of $1,180,000.

Total General Fund Revenue available for FY25 is estimated to be $133,667,920.

Expenditures

The FY25 preliminary expenditure budget was developed using the same staffing formulas as FY24. Expenditure projections for salaries include step increases for current employees. Adjustments were made to healthcare based on the current number of employees that have coverage, opted out and recommendations for contribution rates by the District’s Health Care broker. Salaries and benefits comprise approximately 80% of total expenditures.

Adjustments to instructional and custodial budgets were made based on a formula that includes projected enrollment and building size. Utilities were budgeted using a three-year average.

Included in the primary budget is a transfer to Pupil Transportation of $550,000 and Extra-Curricular travel in the amount of $145,000 for total transfers of $695,000. The total of all expenditures and transfers for the FY25 Preliminary General Fund budget is $147,352,157.

Since projected revenues total $133,667,920 and projected expenditures are $147,352,157, the Deficit between projected revenues and expenditures is $(13,684,237).

Using all the unassigned fund balance of $5,836,963 and other expenditure cuts that include, increase HS PTR +1, increase MS PTR +1, increase Large Elementary schools +1, increase Small schools +1 PTR and Connections +5 PTR increase. Theater techs, pool managers, student success liaisons and 10 days for all support staff and 12-month employees. In addition to the personnel reductions other cuts include a 10% cut to school supply budgets, board dues, curriculum budget, interactive flat panels, extra-curricular assistant coaching stipends, intramural and academic stipends, extra-curricular travel funds, and the transfer to pupil transportation.

The budget reductions and use of fund balance total $13,684,237.

The FY25 preliminary expenditure budget totals $139,504,883.

Use of Fund Balance

Revenue from all sources for the FY25 Preliminary General Fund Budget totals $133,667,920 and since expenditures total $139,504,883, it is necessary to use all the unassigned fund balance in the amount of $5,836,963, as previously discussed by the Board.

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