Responsibilities

All accounting functions and financial reporting for the Kodiak Island Borough is the responsibility of the Finance Department.

Budget

The Finance Department annually produces a narrative budget that meets the Government Finance Officers criteria for a Distinguished Budget Presentation Award. The budget acts as a policy document, financial plan, operations guide, and communications device for the Borough.

FY2024 Budget Worksheets (While Borough staff works on compiling the completed budget book publication for the GFOA) 

Annual Comprehensive Financial Report

The Borough annually produces an  Annual Comprehensive Financial Report that meets the Government Finance Officers criteria for a Certificate of Achievement. Our Annual Financial Report is audited each year by an independent CPA to ensure that our Annual Financial Report is materially correct. This criterion is always met.

Popular Annual Financial Report

The Borough also produces a Popular Annual Financial Report which is a more user friendly document designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance.

Quarterly Financial Report

The Finance Department prepares a quarterly financial report. The report compares current-year amended budget amounts to actual revenues and expenses by quarter for the year. 

Monthly Financial Report

The Finance Department prepares a monthly financial report. The report contains a balance sheet, revenue report, expenditure report, project report and a report on investments.

Various Reports

The Finance Department also prepares reports to the State of Alaska on grant expenditures, expenditures paid for out of State reimbursable bond proceeds, and Federal grant expenditures. Other reports are compiled on an as needed basis.