If you live in Nikiski, are you aware that the North Peninsula Recreation Service Area has been stuffing $50 to $75,000 a year into its capital projects fund? The borough gets all the interest off the operating funds, but they retain the interest from the capital projects fund. At the end of fiscal year 2004, the balance was almost $300,000.
Because the pool bonds have been paid off, this year, the NPRSA was able to afford a transfer of $550,000. This money was intended for the $815,000 Phase 1 renovations to Nikiski Elementary. At this point, Phase 1 has been put on hold, since the price tag rose to $1 million. The money is still sitting in the capital projects fund, however, just waiting for next year's new influx of revenue. Unless we all vote yes on Propositions 3 and 4 on Oct. 5., the NPRSA will start putting in sprinklers as planned.
If Vicki Pate and David Machado can join James Price on the recreation board, the three of them can vote that money back into the operating fund. The borough could then reduce our mill rate in FY2006. Vote Oct. 5.
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