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Finance committee reviews plan to prepare TRAN if state payments are delayed
Summary
The Keystone Central School District finance committee met informally without a quorum and reviewed a potential tax and revenue anticipation note (TRAN) to cover a projected cash shortfall if state subsidy payments are delayed.
The Keystone Central School District finance committee met informally without a quorum and reviewed a potential tax and revenue anticipation note, or TRAN, as a short-term option if state subsidy payments are delayed.
Joni (staff member) said the district's cash position shows liquid balances swept into a money market, a CD that will mature Dec. 12, and modest quarterly interest receipts; she told the committee that if the district still lacks a state-approved budget in December, staff would avoid reissuing a CD and instead keep funds liquid. "If we do not have a budget, I will not put it in a CD. I will make it…
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