BFY 19 Preliminary Budget Discussions

Background Information:

This work session will be intended to start budget discussions for the FY19 KPBSD Budget.

We will begin with a review of the District's Fund Balance Policy and continue with a discussion of the FY2017 year end amounts in each fund balance category. Part of the discussion will be on the availability of the funds in each category to be used for future budget purposes.

Next we will review the State Foundation Formula in relation to the amount of State revenue received by KPBSD. A good part of the discussion will center on the components of the Foundation Formula that are not yet determined, but will have a significant affect on the amount of State revenue we will receive. Those components are projected enrollment, number of intensive needs students, and the Base Student Allocation value.

We will then review the State Statutes that determine how much revenue the Kenai Peninsula Borough (KPB) may provide. We will also review the formulas that determine the amount KPB is required to give, and then the additional amount they are allowed to provide. When added together those two amounts equal the maximum allowable amount that KPB may provide. We will then also discuss the manner in which KPB can supply those funds, either as appropriation or as in-kind.