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Lapeer district seeks up to $4 million cash‑flow authorization amid delayed state payment
Summary
District officials told the board they seek a not‑to‑exceed $4,000,000 cash‑flow resolution as a safety net while awaiting a major state payment; details on a formal vote were not specified in the transcript.
A district business official told the Lapeer Community Schools board that the district is requesting authorization for an additional cash‑flow resolution not to exceed $4,000,000 because of uncertainty about a state payment.
“Now the bad news is while you have this resolution, if you remember, we did a $6,000,000 cash flow resolution back in the spring with our budget,” the district business official said. The official said the new authorization is intended as a safety net while the district…
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