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School board hears November cash shortfall warning, considers temporarily delaying PSERS employer payments
Summary
Board treasurer projected a possible district cash shortfall in November–December and administrators proposed placing a motion on next month's agenda to consider withholding employer PSERS contributions (estimated ~$200,000 saved) and arranging a line of credit to cover payroll.
Clarion-Limestone Area SD board members were warned at their September meeting that the district could run short of cash late this calendar year and discussed a plan that could include temporarily delaying employer pension payments to PSERS and seeking a line of credit.
Treasurer (district official) told the board the district’s cash position could be strained "in the November-ish time frame, maybe maybe December," and explained that a substantial tax remittance is expected around Sept. 10 that will…
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