Borough Mayor Vetoes Additional Funding For KPBSD

first_imgThe mayor’s budget will be presented to the assembly at  their meeting on Tuesday, May 7. Additional details to follow. Total funds provided for school purposes are $57,555,977; the Borough portion is $57,555,977 and the State of Alaska is forecasted to provide $0.00 for debt reimbursement. Funding provided by the Borough, net of the State’s contribution for debt service, for school purposes is equivalent to 6.79 mills. This statute outlines the minimum and maximum amounts that can be contributed to the school district. The required minimum local contribution is estimated to be $27,492,488 and the maximum amount is $52,537,091. The amount the Borough has appropriated for FY2020 is $51,512,091, or 98% of the maximum allowed by statute. Pierce announced his intent to veto the additional funding in education ahead of Tuesday night’s meeting. That money had been approved by the assembly at its April 16 meeting. Pierce also released his proposed KPB Budget for FY2020 to the Assembly. The largest component of the budget is the contribution the Borough makes to fund the Kenai Peninsula Borough School District. The Borough’s local contribution is governed by AS 14.17.410, according to a social media post from the borough. Facebook0TwitterEmailPrintFriendly分享Kenai Peninsula Borough Mayor Charlie Pierce issued a veto of Ordinance 2018-19-33, which appropriated supplemental funding of $2,423,955 for the Kenai Peninsula School District for Fiscal Year 2019 Budget. Sales tax revenue is expected to cover $32,272,462; the balance of funding of $25,283,515 (equivalent to 2.98 mills) comes from property taxes, federal revenue, and other sources. Total funding provided for schools (not including post-secondary education funding) represents an amount equal to 68% of the Borough’s General Fund budget.last_img