School board to take action on FY19 budget Monday

The Kenai Peninsula Borough School District will take action on the preliminary Fiscal Year 2019 general fund budget at Monday night’s meeting.

Total expenditures in the FY19 budget are about $143.5 million, which includes nearly $1 million in a transfer to food services.

The district’s revenue, though, primarily comes from the state and the Kenai Peninsula Borough, who have yet to finalize their FY2019 budgets, leaving the district’s budget fluid.

The district is estimating the state will fund at just under $80 million and that the borough will fund at about $52 million.

The administration is working off the assumption that the borough will fund at the projected maximum allowable rate, or to the cap, which is nearly a $2 million increase over what they funded last year.

According to board documents, if the borough doesn’t fund to the the cap, “it will necessitate further budget reductions of approximately $2,057,761.”

The district will also be using a portion of their fund balance under the proposed budget. According to board documents it will be necessary to use fund balance of about $1.3 million in a move already approved by the school board.

Monday night’s meeting is scheduled to start at 6 p.m. at the Kenai Peninsula Borough building in Soldotna.

The board will also hold a work session on the budget at 3:30 p.m. on Monday.

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