Late payments from the state and looming expenses will likely force Community Unit District 300 to take out a $19 million loan in the next few months to cover general operating costs, including payroll.
School board members authorized the issuance of $19 million in tax anticipation warrants on Monday. School leaders said without the short-term loan the district will run out of cash in the spring, including the $35 million it has in its working cash fund.
Read more: http://www.dailyherald.com/article/20110113/news/701149784/#ixzz1PGbCsC37
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