Borough holds $15 million in savings

As a percentage of spending, the Haines Borough’s $15 million in savings is exponentially more than what many other municipalities hold onto, but it’s a “prudent cushion,” the Haines Borough’s auditor told the assembly last month.

The $15 million in fund balances identified by Max Mertz of Juneau includes $7.1 million in permanent fund capital, $1.7 million in the permanent fund’s “earnings reserve,” $4.2 million in restricted funds like the townsite service area and medical…