Anchorage School District projects $84 million year-end balance, but only about $7.5 million is truly available

The Anchorage School Board Finance Committee was told Thursday that the Anchorage School District expects to end the fiscal year with about $84 million in fund balance, but only roughly $7.5 million of that is truly unassigned and immediately available. Kelly Lessons, chair of the Finance Committee, opened the meeting and framed the agenda; Andy Rallis, chief financial officer for the Anchorage School District, presented the projections and the key caveats.

Why it matters: the headline number that appears in public reports — and the figure cited in some public discussion — includes restricted and committed funds required by statute, bond covenants and routine transfers. Rallis said those restrictions leave only a small cushion for an operating emergency, and he repeatedly cautioned that several revenue items now listed as revenue remain uncertain.

Rallis told committee members that the district began the year with roughly $121 million in fund balance, budgeted to use about $37.2 million this year, and expects to end with about $84 million after planned transfers and obligations. "That leaves about 7½ million of truly unassigned money, which can be used in case of emergencies," Rallis said. He said that amount would cover roughly a week of district operating…