The Kenai Peninsula Borough School District and the Kenai Peninsula Borough held a joint budget work session on Tuesday afternoon. A presentation was given by the District’s Director of Finance, Elizabeth Hayes, joined by several other members of the District Administration and the Board of Education. The FY23 budget process began in October by projecting enrollment for the next fiscal year. How many kids the district will have is projected. Once that’s made, the state revenue being provided to the district can be projected with HR working on staffing levels based on enrollment.
The preliminary FY23 revenue from the State of Alaska Foundation is to be $73,591,664, which is based on projected enrollment. Base Student Allocation is at the same levels as the past several fiscal years.
Hayes said:
“The state of Alaska provides about 70% of our revenue. The Borough provides just about 30% of the additional. The other is pretty small. In FY21, you were able to provide us with $50 million. That included $2.1 million from CARES Act funding. FY22, we started out at $48 million and with an additional $2 million coming from the ARP funding, again to get us back to $50 million. In conversations that we’ve had with Mayor Pierce, the level of budgeted revenue from the Borough is sitting at $50 million for FY23. Overall revenue for the school district, in FY21 we had $137 million on total revenue from the sources for the general fund. As you can see, in FY23, we are projecting $131.5 million for FY23. Again, part of that is the $4 million that was reduced from the PERS and TRS on behalf of that also had a reduction in expenditures on the other side also.”
Borough Mayor Charlie Pierce stated that he was hoping to have another work session to hammer out more details on the budget.
FY23 Joint Worksession KPB and KPBSD 2 1 2022
