Budget planning update

 

November 19, 2014

 

Contact: Heidi Embley

ASD Communications

Phone: (907) 742-4158

Email: Embley_Heidi@asdk12.org

Web: www.asdk12.org

 

Update on ASD budget planning

Changes in hiring and spending practices shrink budget gap

 

Conservative management of finances and difficulty recruiting for budgeted positions has the Anchorage School District projected to underspend its budget by 3 percent, or 22 million, for the current 2014-15 school year. The information was provided to the Anchorage School Board yesterday during the board’s budget and audit committee meeting.

 

ASD’s Chief Financial Officer Mark Foster said the district is coming in under budget after the first quarter due to two primary factors:

  • tight management of vacancies and attrition; every open position is scrutinized for need or potential streamlining before it is posted for rehire, and
  • more senior educators than expected retired; younger workforce has smaller salary and benefits packages.

 

Superintendent Ed Graff credits fiscally conservative business practices in an effort to manage the district’s finances.

 

“I will recommend the majority of the 2014-15 funds available be allocated to address the anticipated shortfall for 2015-16 in order to best support students in the classroom,” said Superintendent Graff.

 

Financial forecasts show the district’s funding for the 2015-16 school year is $22.5 million less than expenses due increases in insurance, utilities, negotiated contracts and healthcare costs.

 

The school board will decide whether to use the funds to support estimated budget gaps next year or in future years. Proposed budget revisions will be presented to the school board at its Dec. 1 meeting.

 

Learn more about the budget by visiting the Anchorage School District's budget page.


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