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Wyoming Valley West board approves receivables agreement; members discuss dedicating proceeds to capital or short-term investments
Summary
The board approved an agreement to sell delinquent-tax accounts receivable. A public questioner sought assurance that taxpayers would not pay less or face additional fees; staff said the sale would not reduce tax collections or add penalties. Board members estimated $90,000–$95,000 in additional interest income from receiving proceeds up front and will consider fund designation at a future meeting.
The Wyoming Valley West School District board approved an agreement to sell delinquent-tax receivables during its Jan. 28 special meeting and addressed questions about the impact on taxpayers. An audience member identified as "Mister Geronimo" asked whether the district would collect less tax revenue under the agreement and whether the purchasing organization could add late fees or penalties. A staff respondent answered, "That's absolutely correct,"…
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