BUDGET

Public Hearing and Availability of Proposed Budget

The proposed budget, showing expenditures, fund balances and all revenues, shall be made available for public inspection before the public hearing date. 

The Board shall hold a public hearing on the proposed budget for the purpose of permitting any district resident to appear and speak to the budget or any item on the budget. 

Adoption of the Budget 

The adoption of the budget shall not take place until the public hearing is concluded.  The district budget shall conform to state regulations regarding form and content. 

By May 1, the Board shall adopt and submit an annual budget to the borough assembly for approval of the local contribution of revenue to the school district.  If budget revisions are necessary based on the amount of local contribution to the schools approved by the borough assembly, the Board shall conduct a public hearing prior to adopting a revised budget. 
(AS. 14.14.060/14.14.065)

By July 15, the adopted budget shall be submitted to the state department of education for approval.  The state commissioner may reject the district budget if it is not in the form required by the state, is not balanced, or does not meet local effort requirements of law.  If rejected by the state, a revised budget shall be submitted within thirty days of the notice of rejection.  If the budget contains a prior year fund balance as revenue, the budget shall be revised and resubmitted if the annual audit shows the fund balance to be less than projected.       
(4 AAC 09.110/09.120)

Immediately after the student count is determined and submitted to the state department of education, the Superintendent shall prepare a budget revision for approval by the Board. A budget containing increases in revenue that exceed the established spending authority shall be submitted to the borough assembly for approval.

KETCHIKAN GATEWAY BOROUGH SCHOOL DISTRICT
Adoption Date:  10/13/99
Revision Date:  05/23/2012