The Los Alamos School Board passed its budget for 2015-16 Thursday night, but not after a lot of soul searching from administrators and board members, since this $38.6 million budget includes a list of $2.7 million in expenditures and business increases projected to be paid for through the district’s “lease funds.”
Those are funding the district receives from its portfolio of properties it leases to businesses, including the Los Alamos National Laboratory.
Most of the properties are former school sites. At present, the lease fund contains a reserve of about $7 million, an amount that according to LAPS’ chief operations officer was built up over a period of 10 years.
The $38.7 million budget was passed 4-1, with board members Bill Hargraves, Jenny McCumber, Andrea Cunningham and Board Vice President Matt Williams voting for the budget.
President Jim Hall was the lone dissenter, stating that he did not believe in taking the $2.7 million in lease funds to balance the budget and urged his fellow board members to vote for asking the administration to take one more week to find ways to help the board reduce the $2.7 million deficit.