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Tecumseh Public Schools board authorizes up to $1.5 million state-aid note in case state budget delay continues
Summary
The Board approved a resolution permitting the district to borrow up to $1.5 million against anticipated state school aid if the state budget and payments are delayed; board members emphasized the borrowing is a temporary hedge and can be canceled if payments arrive.
The Tecumseh Public Schools Board of Education voted unanimously Sept. 22 to approve a resolution authorizing the district to borrow up to $1,500,000 against anticipated state school aid if the state fails to pass and distribute the fiscal-year budget on schedule.
Board members approved the resolution after a staff presentation explaining the measure is a cash-flow safeguard, not an immediate borrowing. Kelly Glenn, finance staff, told the board the district normally receives a monthly state aid payment on the 20th and that a delayed state budget could produce a shortfall by late October. She said the district’s estimate of…
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