LAYDOWN ADDED: 01-31-2025

KPBSD BOE Meeting School Closure Consolidation Power Point

We will continue to review the FY26 Preliminary Budget.

Revenue

State of Alaska revenue projections for FY26 were created using $5,960 as the Base Student Allocation (BSA) in the State of Alaska Foundation Funding Formula, the same BSA as FY25.The student enrollment projection of 8,125 for FY26, listed in the Five-Year Enrollment Projection document, was used in the Foundation Formula to calculate estimated state revenue. State revenues include $64,297,274 for Foundation Funding, $268,014 for Quality Schools funding for a total of $64,565,288. On-behalf payments total $6,861,026 for a total State funding of $71,426,314.

State of Alaska revenues decreased ($16,488,600) from FY25 levels.

Administration has budgeted KPB support in the maximum allowable amount of $62,359,080. In-kind services are budgeted at the same level as FY25 of $15,314,096 and $47,044,984 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 $134,965,394.

Expenditures

The FY26 expenditure budget was developed using the same staffing formulas as FY25. 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 a 5% increase for contribution rates. 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 based on a three-year average.

Included in the primary budget is a transfer to Student Transportation in the amount of $550,000 and $145,000 for Extra Curricular travel. The total of all expenditures and transfers for the FY26 Preliminary General Fund budget is $151,901,148.

FY26 Preliminary Budget Deficit

Revenue from all sources for the FY26 Preliminary General Fund Budget totals $134,965,394 and since expenditures and transfers total $151,901,148, leaving a deficit of $16,935,754.

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