Gibbons considers giving found $40 million back to education budget

Gov. Jim Gibbons says he might consider an assemblywoman's suggestion that he use a $40 million windfall to reduce the public education budget cuts he ordered.

"I have no problem with doing that," Gibbons said Tuesday. "We certainly will consider it, but there are a lot of demands for revenue."

Assemblywoman Debbie Smith, D-Sparks, suggested that Gibbons use the $40 million in revenue discovered last week by state Treasurer Kate Marshall to reduce the $92 million in cuts he imposed on public education in January.

Marshall found the excess revenue from an unexpected increase in the unclaimed property fund and by savings in bond sale costs.

The proposal was applauded by Walt Rulffes, superintendent of the Clark County School District, Nevada's largest. Rulffes said he thinks a lot of state agencies will compete for that $40 million, but he hopes public schools will be given top consideration.