Now valued at more than $50 billion, the annual PFD payout is based on an average of the interest earned on the fund’s past five years of investments.
An audit for 2013 finds the accounting practices for the city’s utility are sound, but operating at a loss that could lead to debt struggles down the road if changes aren’t made.
At the heart of Monday’s meeting with the Nome Joint Utility and City Council was a question: can NJUS use part of the $2.2 million credit line from the city to pay for fuel?
Cutting fluoridation to weekdays, and a possible rate hike, were just some of the proposals at Saturday’s meeting to trim the utility’s 2015 budget.
The city’s top priority is continuing with ongoing water and sewer upgrades, but even modest projects are uncertain in the face of a potential $3 billion deficit due to falling oil prices.
Foster looks to his seat on the Transportation committee and his ties to the House majority; Olson won’t be caucusing with the Senator Majority, but will keep key seat on Finance committee.
In Thursday’s news: Kawerak prepares to present AK legislatures with evidence of a growing regional housing shortage; Federal court rules lease sale in Chukchi to Shell…