Assembly says school district will use excess savings for budgets

The Fairbanks North Star Borough Assembly says the Fairbanks school district will direct excess savings toward future budgets.

What the assembly said

The development concerns the district’s use of money left over after its current budget needs. The assembly’s statement says those excess savings will be carried toward future district budgets rather than treated as a separate new spending item.

What is known

The statement identifies the Fairbanks school district and the intended budget use. It does not establish the amount of the excess savings, the budget years involved or the process the district will use to apply the money.

What happens next

Future budget action will show how the savings are incorporated into district finances. The Borough Assembly and the school district are the public bodies tied to the decision.