State payments in November–December delivered over $7M and eased borrowing needs, district says
Officials said state payments began Nov. 18 and the district received the majority of back pay by Dec. 1 ("over almost over $7 million"), avoiding the need to borrow; timing, however, cost an estimated $37,000 in interest earnings.
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Finance presenter Mrs. Lince told the board the state began processing payments in mid-November and the district "got the majority of our back pay by December 1st. So over almost over $7 million we received" after the state budget passed.
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