FAIRBANKS, Alaska - The Fairbanks North Star Borough School Board continued to discuss the possible implications of a funding cap contained in a pending Borough Assembly Ordinance.
If approved, this ordinance would not permit the school district to accumulate unrestricted fund balances greater than 18 percent, of the borough's July 1st direct appropriation to education for the fiscal year.
This would apply to all funds and financial sources. Under the ordinance, any funds above this cap would go to building maintenance. The result would be an estimated 7.4 million dollars set aside for school building projects.
At a work session Monday night, the board reviewed different scenarios should the ordinance be approved. Scenario one would lapse funds back to Borough for school building projects, scenario two would have the district set aside funds for specific projects and scenario three would also lapse funds back to Borough but with a decrease monetary amount.
School Board President, Wendy Dominique, said even if the ordinance is passed, it's all about positive thinking, “I'm looking forward in the future of better relationships and that way better funding would come our way. Even if they do cap us, there would be a way we could communicate to them, let them know exactly what we're doing. I just think communication changes things, I really do," she said.
There is also a regular School Board meeting on December 4 and the board will be considering a proposed resolution on school facilities capital projects at that meeting.
At a previous Borough Assembly meeting, further discussion of this ordinance was postponed to its December 13 meeting.