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Greendale School District board approves routine finances, personnel and $2.2 million temporary borrowing
Summary
The board approved minutes, checks and personnel actions and passed a resolution authorizing temporary cash‑flow borrowing up to $2.2 million to cover seasonal shortfalls; staff said pooled borrowing and competitive bids aim to reduce interest costs.
The Greendale School District board voted to approve routine meeting minutes, authorize $1,448,216.80 in checks and disbursements, approve several personnel actions, and pass a resolution authorizing temporary cash‑flow borrowing not to exceed $2,200,000.
Jonathan Mitchell, a district staff member presenting financial background, said the district’s unaudited fund balance is about $5,519,000 and described how slow receipts in July and August create seasonal cash‑flow needs. He told the board the proposed borrowing would be in place roughly from late October until June, when property‑tax and other large receipts arrive.
"What's proposed here is a decrease from last year to a cash flow borrowing of 2,200,000.0," Mitchell said,…
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