Anchorage Daily News

It's nice the Anchorage School District has found $11 million that it can use for projects that were on the bond propositions that failed last month. But it doesn't do much for the district's credibility when this money suddenly materializes after voters defeated a much larger maintenance bond. The newly discovered $11 million came from previously-approved bond proceeds and interest earnings. The board didn't know that money was available for use, or it probably wouldn't have asked voters for that $11 million, said board member Jeff Friedman.

The district recently learned from new bond consultants that the $11 million is not only available but must be spent. If it is not used by the end of 2010, the district will lose some of it to the IRS and could face a fine as well, according to a KSKA public radio report.

This news raises questions about how the district handles money from bonds voters have already approved. $11 million is a lot of money to be sitting around, unknown to the School Board and voters.

The district plans to spend the money on solid things -- new roofs for Creekside Park and Inlet View Elementary, water pipes for Hanshew Middle School, a water and sewer extension for Eagle River High, and repairs to the deteriorating little gym at Service, for example.

We supported the bond propositions to do that work and the other $86 million of school projects.

But when something like this happens, it only confirms in voters' minds that the district doesn't need as much money as it asks for.

"I think this is one of the reasons why the public has a hard time sometimes approving bonds," said board member Crystal Kennedy.

That's exactly right.

BOTTOM LINE: The School District really hurt its credibility on this one.

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