The assembly will take up a substitute ordinance pushing the proposed April special election to October next meeting.
FAIRBANKS, Alaska - Fairbanks North Star Borough Mayor Bryce Ward floated the idea of pushing back a proposed April special election to the October ballot at Thursday’s finance committee meeting.
At Thursday’s meeting, Ward said the proposed increase would put the borough back on par with the tax ecosystem of the recent past.Last year, the assembly approved a budget with $109 million in areawide property tax revenues, a $10 million reduction from Ward’s initial FY2024 budget, which suggested $119 million.Reviving the $10 million would accord with areawide property taxes the borough collected in 2023.
There are stopgaps the assembly could use, like one-time funding from borough savings, though it’s likely the same situation would surface next year, assuming Alaska’s Legislature fails to pass structural education funding changes this session. Those increased education monies will only end up in the district’s accounts for the upcoming fiscal year by going through the political wringer.
Those assumptions entail the district’s now-$29 million deficit projection accounts for a $59 million contribution from FNSB, though Ward’s current budget status has that number at $50 million.
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