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District authorized to borrow short-term funds to cover expenses until state aids and taxes are received
Summary
Electors approved a resolution authorizing the district to borrow up to its legal limit to pay immediate and current expenses until state aids and taxes are received during the 2024-25 year; the consent agenda motion carried by unanimous roll call.
Electors approved a resolution authorizing the School District to borrow money up to legal limits to pay immediate and current expenses when state aids and tax revenues are not yet available. The resolution text states: "WHEREAS the state aids, as well as the taxes levied for the School District of St. Croix Falls will not be available until the latter part of the 2024-2025 school year ... NOW, THEREFORE, BE IT RESOLVED ... be authorized to borrow money up to its legal limit."
The short-term borrowing resolution was part of the consent agenda approved by motion and unanimous roll call. The approval authorizes district officials to arrange short-term cashflow borrowing as needed during the fiscal year.
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