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ASD staff says fund balance is adequate to shore up FY27 but district remains below a 10% reserve target
Summary
Finance staff reported the Anchorage School District is about $8.5 million above its 5% fund-balance mark and about $26.5 million short of a 10% reserve; the committee heard that approved $8 million planned use will be spent to balance the FY27 budget, and long-term reserve goals remain under discussion.
Anchorage School District finance staff told the finance committee that the district sits about $8.5 million above its 5% fund-balance target but remains well short of a 10% reserve the CFO said would be preferable.
Scott Lee, the district CFO, said the district is roughly $52.3 million below budgeted revenue in nominal terms but that about $49 million of that is the planned use of fund balance and not an actual revenue shortfall. "So, we're really right on par…
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