Board approves a $4 million short-term note as the district projects a cash shortfall

What happened

On November 4 the board voted 7-0 to authorize a note of up to $4,000,000 for cash flow. The district's cash flow projection shows a working capital deficit of about $2.46 million by early January 2027.

Why it matters to families

The district expects to spend more than it receives before property tax payments arrive in winter, so it needs short-term borrowing to pay bills.

The evidence

Draft November 4 special meeting minutes record the 7-0 vote for a short-term borrow through Premier Bank. The cash flow projection lists ending cash of negative $916,006 in late November and negative $2,462,341 in early January, a reasonable working capital reserve of $2,103,000, and a maximum permissible borrowing of $4,565,341.

The source