The first quarter of the Kenai Peninsula Borough School District’s Fiscal Year 2015 ended October 17 with $12.5 million revenue above expenditures.
Assistant Superintendent Dave Jones said that first quarter always sets the tone for the year since that quarter reflects the first large payout of salaries because school is back in session.
Jones: “Part of what we’ve got to do is on a cycle bases look at seem, ok are the revenues where we expect them are the expenditures where we expect them and so at this point at this time this year we’re we we’re at budget planning wise.”
As the Fiscal Year 2016 budget process begins, the district looks back to the Comprehensive Annual Financial Report of 2014.
That report showed the district’s general fund balance declining by about $1.2 million from 2013 to 2014(pg 69).
This year the district has asked the borough to fund to the cap in order to eliminate having to reduce their general fund any more.
