Board approves resolution authorizing temporary borrowing if needed
The board approved a resolution giving the district authority to short-term borrow against fund balance if necessary; administration said the authority mirrors the district's practice from the prior year and carries no cost unless used.
The full story
The Salem School District board voted to approve a resolution authorizing temporary borrowing to be used if the district dips into its fund balance and short-term liquidity is required. Administration said the resolution gives the district the same flexibility it used the previous year; if no borrowing occurs, no interest would accrue.
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