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Finance director: audit nearly complete; state aid uncertainty could force short-term borrowing; enhancement millage noted
Summary
District finance staff said auditors will present draft financials in November, warned that delayed state aid could require borrowing to meet payroll if a prolonged shutdown occurs, and summarized an upcoming countywide enhancement millage that would restore 0.9 mills.
Lowell Area Schools finance staff told the board Sept. 8 that final audit fieldwork is complete and auditors will present draft financial statements at the Nov. 10 meeting, while also flagging uncertainty about upcoming state aid.
“...we will be able to continue to make our payments, continue to pay payroll even if we do not get our October state aid payments,” a district finance…
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