ITEM TITLE:
Approval of the 2018-2019 Valdez City Schools Budget
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $10,444,634
Unencumbered Balance: $5,222,317, (50% through 12/31/2018, 50% contingent upon adoption of the City 2019 Budget)
Funding Source: 001.0100.48600, Education/Contributions
RECOMMENDATION:
Approve 2018-2019 Schools Budget as presented
SUMMARY STATEMENT:
Pursuant to AS 14.14.060, the Valdez City Schools have completed their budget process and adopted their 2018-2019 budget (attached). This budget reflects $10,444,634 of City Support, comprised of $8,628,129 of operating funds and $1,816,505 of support program funding. The final page of the attachment summarizes operating funds (“fund 100”) and five categories of program support.
The total budget figure is consistent with the School’s proposal to City Council during the City’s 2018 budget process in October of 2017, and therefore matches the City’s 2018 adopted budget figure.
The City has until June 1, 2015 to take action on this budget. If no action is taken, the
budget is accepted by default.
Mr. Nygaard and Ms. Cockerham will be present to field questions from City Council.