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Board approves financial reports; members flag pending tax-rate legislation that could affect cash flow
Summary
The board approved June financial reports and conversion of two bond anticipation notes to bonds, while officials warned a pending General Assembly bill to let districts reset tax rates could defer tax receipts and require short-term borrowing.
At its Aug. 12 meeting, the Appoquinimink School District board voted to approve the district’s June monthly financial report, an internal accounts report and an August financial-position report that projects the district can meet one month of local payroll as of Oct. 15 under current law.
Chuck Longfellow presented the final-year totals and cautioned that a pending bill in the General Assembly could change how tax receipts are timed. “If something does pass, then…
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