SB207 and SB 209 could Increase YK Deficit
The Senate Finance Committee introduced four education related bills which potentially affect Yukon Koyukuk School District revenue and expenditures. SB 207 -Teacher Retirement Employer Contributions, and SB 209 - PERS Employer Contributions, both increase the percentage school districts will contribute to the Alaska Teachers' Retirement System (TRS), and Public Employees' Retirement System (PERS) over the next several years.
Yukon Koyukuk analyzed the potential impact of this additional revenue expenditure for our 2016-2017 budget, together with our commitment to provide stability for our students, staff, and community within the changing fiscal climate. The impact of the unanticipated expenditures to the FY17 budget is estimated to be:
- ¥ TRS potential additional FY17 expenditure: $313,406.00
- ¥ PERS potential additional FY17 expenditure: $62,466.00
- ¥ Total FY17 unanticipated revenue expenditure for Yukon Koyukuk: $375,872.00