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Bethlehem Area SD staff report tightening cash flow, recommend short-term borrowing options
Summary
District finance staff reported projected cash balances declining after November and recommended pursuing a drawdown revenue anticipation note or other short-term borrowing to bridge a potential gap if the state budget remains delayed.
Finance staff for Bethlehem Area SD told the Finance Committee on Oct. 13 that the district’s cash balance is projected to decline sharply after November and could fall to less than two months of operating expenses by December if the state budget remains unsettled. The presenter recommended short-term borrowing options, including a drawdown revenue anticipation note (RAN), and outlined a 45– to 60-day timeline to implement the measure.
The recommendation matters because the district is in the middle of capital work, including a new elementary school. "So as of the October, we're projected to have a…
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