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State monitor reports loan repayments, Rosenour sale proceeds and grant opportunities for district
Summary
State monitor Dr. Savio told the board he reviewed audits and the 2025-26 budget, described outstanding borrowings and scheduled repayments (a $6 million 2023-24 loan repaid at $600,000 per year), confirmed Rosenour sale proceeds and a $2.9 million bridge loan were used to close fiscal 2024-25, and said staff are pursuing energy and water infrastructure audits and grants.
Dr. Savio, the state monitor assigned to the district, briefed the board on financial oversight, audit findings and recovery steps taken over the past year. He said he began work in the district on May 20 and reviewed the 2023-24 audit and the 2025-26 approved budget line by line.
The monitor described prior borrowings and repayment plans: a $6 million borrowing from 2023-24 is being repaid at $600,000 per year…
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