Financial Impacts

  • The financial impacts of changing enrollment is driving the short timeline for school efficiency. The following information is a snapshot of what the school district is facing as it plans the district's budget for the next school and looks to the future. For an in-depth look, watch the FY23 Preliminary Budget Presentation given by Chief Operations Office Andy DeGraw.

  • District Funding Sources

    Approximate percentages for the district's operating fund.

    65% ⇒ State of Alaska

    25% ⇒ Fairbanks North Star Borough

    10% ⇒ Federal Government

  • Important Budget Dates

    • February 15: Proposed budget presented to the Board of Education

    • April 1: Recommended budget sent to the Borough Assembly

    • June 30: Approved budget sent to the State of Alaska
  • 2022-23 Budget Outlook

    • Initial deficit of $12.3 million in 2022-23 due to 119 full-time equivalent positions that were paid for in the current school year with CARES funds instead of being eliminated.

    • Additionally, an estimated $5 million less in State funding expected.

    • Estimated enrollment will be 1,000 students fewer than pre-pandemic (2019-20 school year).

    • Total deficit of $17.3 million
  • District Expenditures

    Approximate percentages for how the district's operating fund is spent.

    87% ⇒ Salaries and Benefits

    9% ⇒ Contracted Services

    3% ⇒ Supplies

    1% ⇒ Equipment

    <1% ⇒ Other

  • Quick Facts

    • Enrollment has decreased approximately 2,000 students in 10 years, from 14,264 students in 2012-13 to 12,300 students in 2021-22.

    • General fund revenue has decreased over $35 million in the last 10 years.

    • Almost 200 fewer positions (full-time equivalent).

    • Salaries have increased approximately $3 million in the last 10 years, despite 200 fewer positions.

    • Fund balance has decreased. Fund balance, the district's cash reserves, is down to $6 million. The is equivalent to 1.5 weeks of operation. Per district policy, the fund balance should be between $12-16 million, or 3-4 weeks of operation.