MEMORANDUM
KENAI PENINSULA BOROUGH
FINANCE DEPARTMENT
To: Ronald Wm. Drathman, Assembly President
Members, Kenai Borough Assembly
Thru: Mike Navarre, Mayor
From: Jeffrey Sinz, Finance Director
Date: April 8, 1999
Subject: Ordinance 99-22, Appropriating Funds For School Purposes For
Fiscal Year 1999-2000.
Ordinance 99-22 appropriates local funding for the FY1999-2000 school district budget. The
amounts contained in the ordinance anticipate that the assembly will approve a resolution
on May 4, 1999 setting local school funding at the maximum allowable level under state
statutes. The estimated maximum local funding was calculated by the school district based
on their projected enrollment. This same amount will be included in the mayor's proposed
FY1999-2000 budget scheduled for presentation to the assembly on May 4, 1999. The local
school funding totals $29,435,314, consisting of $23,513,189 in direct operational funding
and in-kind services of $5,922,125.
Section 2 of the ordinance provides that any direct operational funding appropriated will
be distributed to the school district through monthly payments in the amount necessary to
cover the difference between actual school district expenditures and revenues received
from other sources. At year-end, the balance of the appropriated direct operational
funding, up to the maximum local contribution based on actual enrollment data, will be
paid to the school district. This language is being added to clarify that it is the intent
of the assembly to allow the school district to generate and accumulate their own fund
balance, and to clarify that the appropriation is intended to equal the actual maximum
local funding under state statutes.