Kodiak Island Borough Assembly members worked through budget issues Thursday night in advance of next week’s regular assembly meeting.The session involved going point by point through the questions raised by assembly members at an earlier budget review.
There were also updates and adjustments made to the budget as a result of changes that have occurred since it was first introduced on April 20th.
One of the biggest changes is the cash appropriation to the school district.
Last week the assembly chose to appropriate money to the school district that was equal to last year’s local contribution. Now it appears that new borough budgetary figures will mean some better news for the school district.
Reductions in both liability and property insurance for the school district have freed up $172,000. Liability insurance is $112,000 less than originally budgeted and property insurance is $60,000 less than expected. Those savings will translate into a higher cash contribution for the school budget.
The school district had asked the borough to increase its local funding this year. The additional $172,000 in insurance savings, will be used to raise the cash contribution to the schools. The increase in the appropriation will still fall $321,000 less than the district’s requested amount.
At the worksession Borough Finance Director Carl Short told the assembly members that in the future it will be necessary to find new funding sources to pay expenses. For now, he says, thinks are pretty stable.
— (Boro Budget :28 "I do think …workable document.")
The assembly will meet again to further refine the budget at another work session on Tuesday. They’re expected to vote on the budget at Thursday’s regular meeting.