WAILUKU, Maui (AP) — The Kahoolawe Island Reserve Commission approved a new budget, but says it might have to shut down when its trust fund runs out in two years.
The $2.89 billion budget for next fiscal year trims spending 1.4 percent compared to this year.
Some commissioners suggested cutting back to stretch what’s left in the trust fund in hopes the state Legislature will find a way to fund the commission. But Executive Director Mike Nahoopii said the budget already is stretched thin.
The trust fund currently has about $3.5 million remaining. By next June, It will have a little more than $1 million.
A state audit last year revealed the $44 million trust fund set up in 1993 would be depleted by 2016 without new funding.