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Tuesday, October 13, 2015

LVSD news

With the state surpassing 100 days without a budget, the Ligonier Valley school board has approved a few precautionary measures to make sure its financial obligations are covered while it awaits state funding.
During its meeting Monday night, the board approved temporarily using committed funds for operational purposes until the state budget is passed and the district begins receiving state funding. It approved giving authorization to issue a tax and revenue anticipation note or to secure a line of credit not to exceed $3 million if the state budget is not passed by December.
“Because the state has not approved the budget, it has put many districts in dire financial straits,” board member Irvin Tantlinger said. “Fortunately, we are able to maintain our obligations until at least December, and hopefully by that time, the state will have a budget approved.”


Read more: http://triblive.com/news/westmoreland/9251828-74/budget-state-approved#ixzz3oTaEDMQi 
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