Rising fish prices left the Kodiak Island Borough Assembly with a pleasant dilemma. What should it do with an extra $584,000?
The Kodiak Daily Mirror reports that severance taxes levied on fish, timber and minerals are generating more money than expected, and the rising fish prices will also give Kodiak a bigger share of the state’s raw fish tax.
Following an extensive debate, the assembly asked finance director Karleton Short on Thursday to draw up a modified budget that provides an extra $33,000 to Kodiak College, $75,000 to the school district’s Ocean Science Discovery Program , $28,000 for the Kodiak animal shelter and $48,000 in advance funding for capital projects.
The rest will be used to pay down future debts.