Gov. Butch Otter issued a response to Superintendent of Public Instruction Tom Luna's proposal to transfer $58.2 million from a reserve fund controlled by the Land Board to the public schools budget for next year. Otter's comment comes from his press secretary Jon Hanian:
"Superintendent Luna presented some interesting ideas for public school funding this week, and he deserves praise for that. His ideas deserve to be studied closely and carefully. At the same time, we must remember that both the Legislature and the Land Board have jurisdiction over endowment funds, and the constitutional process for exploring that option must be respected. In addition, we don’t yet have a clear picture of how soon our economy – and revenue stream – will more fully recover."
Hanian said the governor first heard of Luna's proposal in a phone call last night.
Luna said he, Otter, and the other members of the Land Board will discuss the $58.2 million reserve transfer at a meeting Feb. 16.
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