ITEM TITLE:
Reduction in State of Alaska School Debt Reimbursement Program
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: State of Alaska
RECOMMENDATION:
Receive and file.
SUMMARY STATEMENT:
On August 8th, 2016, the State of Alaska announced a reduction to their FY2017 (i.e. July 1, 2016 through June 30, 2017) school debt reimbursement program. Reimbursements will be reduced by 25%. Staff has calculated the budget impact of this reduction (see attachment).
This report is informational only. Staff will incorporate the impacted revenue in a future 2016 budget revision (if necessary), and in compiling the 2017 budget.