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Okmulgee superintendent warns district may need short-term loan before January
Summary
Superintendent Clay Vinyard told the board Aug. 13 that low carryover and limited funding until state aid arrives in January mean the district will likely need a small short-term loan for FY25; the board heard the warning during the Superintendent's report.
Superintendent Clay Vinyard told the Okmulgee Board of Education on Aug. 13 that the district’s low carryover and the timing of state funding make a short-term loan likely for fiscal year 2025. Vinyard said the district received a Triple B rating when bonds sold and described staffing and extracurricular programs as on track, but added the cash-flow gap through January will need to be bridged.
The remark came during the Superintendent’s report, when Vinyard also noted that all sites were fully staffed at the start of the week and that fall sports had begun. He identified the timing of external revenue as the reason for the anticipated borrowing; the minutes record the board was told a “small loan would most likely be required.” The board did not vote on any borrowing at the Aug. 13 meeting; next steps were not specified in the minutes.
