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 22, 1999

Subject: Resolution 99-38, Determining The Amount That Will Be Provided From Local Sources For School Purposes For Fiscal Year 1999-2000.

The attached resolution establishes the amount from local sources that will be provided to fund the 1999-2000 school district budget. The amount, $29,435,314, equals the maximum local share allowable under AS 14.17.410, as calculated by the school district administration. The FY1999-2000 local share represents a decrease of $41,471, or 0.1%, compared to the amount provided in FY1998-99. The decrease is primarily the result of a slight decrease in projected enrollment.

The assembly is required to determine the amount of funding to be made available from local sources within 30 days of receipt of the school district budget. The budget was presented to the assembly on April 20, 1999. The appropriation of the local school funding, along with the rest of the borough budget, will be accomplished through a single ordinance scheduled for introduction at the May 4, 1999 assembly meeting.