Chapter 4.65
LOCAL EDUCATION FUND

Sections:

4.65.010    Establishment of fund.

4.65.020    Monies to be deposited.

4.65.030    Appropriation of monies from fund.

4.65.010 Establishment of fund.

There is established as a separate fund for the Ketchikan Gateway Borough the local education fund to be used for school operations. [Ord. No. 1833, §2, 5-15-17; Ord. No. 1793A, §6, 4-18-16; Ord. No. 1712, §1, 5-5-14.]

4.65.020 Monies to be deposited.

The following monies shall be deposited into the local education fund:

(a)    All proceeds from the areawide property tax for schools levied under KGBC 4.45.050(a)(1)(a), including penalties and interest collected on that tax.

(b)    All payments to the borough under the Federal Secure Rural Schools and Community Self-Determination Act that may be used to benefit public education.

(c)    Funds from the borough sales tax educational facilities capital projects fund in an amount equal to the cost for insurance on school buildings and grounds for the fiscal year in which the deposit is made. These funds may only be used by the school district to pay the cost of insurance on school buildings and grounds.

(d)    That portion of the fiscal year-end balance in any separate, unreserved, undedicated fund of the school district that exceeds five percent of that year’s total school district budget as approved by the assembly.

Editor’s Note – Through adoption of Ordinance 1915, the assembly suspended application of KGBC 4.65.020(d) to the school district’s unreserved, undedicated fund balance for the fiscal year ending June 30, 2020.

(e)    The entirety of the proceeds of the borough’s areawide excise tax on cigarettes and other tobacco products, including penalties and interest, net of costs of administration, collection, and enforcement of the tax.

(f)    Any other money appropriated to the local education fund by the affirmative vote of at least five members of the assembly.

(g)    All interest earned on money in the local education fund. [Ord. No. 1883, §1, 4-1-19; Ord. No. 1833, §2, 5-15-17; Ord. No. 1793A, §§6, 7, 9, 4-18-16; Ord. No. 1712, §1, 5-5-14.]

4.65.030 Appropriation of monies from fund.

(a)    Subject to the limits of subsection (b) of this section, the assembly may, by majority vote, appropriate monies from the local education fund for cash payments to the school district for required local contributions to education under AS 14.17.410(b)(2) and voluntary local contributions to education under AS 14.17.410(c) for school operations.

(b)    Except as provided in subsection (c) of this section, appropriations under subsection (a) of this section may not exceed an amount that would maintain a minimum unencumbered balance of $2,000,000 in the local education fund.

(c)    Upon a finding by the assembly that extraordinary needs regarding schools exist, and upon the affirmative vote of five members of the assembly, an appropriation from the local education fund exceeding the limits of subsection (b) of this section may be made for operating expenses of the school district. [Ord. No. 1833, §2, 5-15-17; Ord. No. 1793A, §6, 4-18-16; Ord. No. 1712, §1, 5-5-14.]