School board considers fund balance minimum

The Kenai Peninsula Borough Board of Education is looking to establish a minimum general fund balance for the first time.

A 3 percent bottom has been proposed for inclusion in board policy.

Assistant Superintendent Dave Jones said the decision to establish a minimum is in response to moves made by the state during the legislative session in regard to funding for education.

“We need to have the ability to react to unexpected situations,” Jones said.

Gov. Bill Walker discontinued previously promised one-time funding, which would have amounted to an additional $2.2 million from the state, and in effect reduced the maximum allowable contribution by the Kenai Peninsula Borough, Jones said.