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Northern Cambria board hears cash-flow update; $1.5M subsidy expected in April
Summary
Board member reported the district had roughly $350,000 in checking, is holding bills due to cash flow, expects a subsidy payment of about $1.5 million between April 21–24, and noted roughly $398,000 in reimbursements tied to grandfathered PDE bonds.
At the April 7 committee meeting, a board member gave a budget status report saying the district currently holds around $350,000 in available cash and is holding bills because of cash-flow constraints.
Board member Brandon (Speaker 7) told the board the district expects a subsidy payment of roughly $1,500,000 between April 21 and April 24 and anticipates about $398,000 in reimbursements tied to four grandfathered PDE bonds. He said those incoming funds should materially ease the district’s cash position.
Brandon also reported small capital and operational improvements completed or underway, including new blinds installed in several rooms and a dust collector set and awaiting ductwork connections; staff estimated full functionality for the dust collector in about two weeks once the contractor completes work.
No formal fiscal actions or budget votes were recorded during this meeting; board members said they will present a preliminary budget for public review by the next meeting.
