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South Country Central board unanimously approves up to $27.5M in tax anticipation notes and authorizes forensic audit
Summary
The South Country Central School District Board of Education on Sept. 9, 2025, unanimously approved resolutions authorizing tax anticipation notes of up to $27,500,000, waived a 10‑day notice requirement to enable timely issuance, and authorized a forensic audit beginning July 2024 with a cost cap of $10,000.
The South Country Central School District Board of Education in Brookhaven unanimously approved two related tax-anticipation note resolutions and a forensic-audit resolution during its Sept. 9, 2025, public meeting and then recessed to executive session.
Board President (speaker) opened the public agenda and read a resolution authorizing the issuance of tax anticipation notes (TANs) "in the principal amount of not to exceed $27,500,000" for the fiscal year beginning July 1, 2025, and ending June 30, 2026. The resolution states the notes will be general obligations of the district and that proceeds will be used only for the school-purpose taxes for that fiscal year. The board also discussed and rescinded a prior resolution that had referenced $25,000,000 to correct a typographical discrepancy before voting.
Why it matters: TANs allow the district to borrow against…
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