Mayor Charlie Pierce said the consequences of Gov. Mike Dunleavy’s proposed budget cuts would be grim for the borough. During a Kenai Peninsula Borough Assembly Meeting Tuesday, Pierce said the borough stands to lose roughly $20 million, roughly the entire value of the borough’s general fund.
That fund can be used to cover fiscal gaps, but borough code stipulates just how much the assembly can use.
“Prior assemblies have gone and passed a floor, if you will, in our fund balance,” he said. “It said don't go below $14 million.”