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Beatrice staff outline $2.5M–$2.8M interfund loan to finish school construction
Summary
Administrators told the board the district expects a $2.5 million to $2.8 million shortfall on a $40.5 million construction program and proposed an interfund loan from the general fund to the building fund, permissible under Nebraska Department of Education rule 2, to be voted on at the June meeting.
District staff briefed the Beatrice Public Schools board on construction financing and an anticipated interfund borrowing to cover a remaining gap between project costs and outside financing.
Unidentified Speaker 4 said the project’s gross maximum price is roughly $40,500,000 and the joint public agency secured a $35,000,000 loan from Pinnacle Bank. "We know those two numbers didn't match up and Beatrice Public…
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