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Central York board flags state funding delays as cash-flow risk; treasurer’s report shows millions in missed state payments
Summary
At the Sept. 29 Central York School District board meeting, Director McMillan reported millions in missed state payments and urged fiscal caution; board approved the treasurer's report and the district noted it may need loans if the state budget is not resolved by May.
Director McMillan reported to the Central York School District Board of School Directors on Sept. 29 that the district is operating with reduced state aid and a potential cash-flow risk if the state budget is not finalized.
Director McMillan said the district's current cash position is roughly $25,000,000 and reported total revenue of $14,426,031 for the period discussed. He told the board that the district has not received roughly $7,489,000 in expected state payments and reiterated a prior clarification from Mrs. Vitaro that the district likely has until about May before it would need to seek alternative revenue such as loans.
The…
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