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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.