Owen-Withee School Board Approves Short Term Borrowing
Tuesday, December 16th, 2014 -- 8:17 AM
-The Owen-Withee School Board approved short term borrowing for January of 2015 at their meeting last week.Because of how the aid payments and taxes are received by the district, it is necessary, from time to time, to short term borrow money to pay the district's bills and make payroll. Such is the case for January.
By the middle of January and the middle of February the district will receive their property tax payments for the townships, village and city. But to meet the two January payrolls the district needs to borrow. The board unanimously approved borrowing up to $500,000 to cover those payrolls.
The board also heard the administrators' reports. Elementary Principal Lance Batchelor reported on the annual food drive held in November where over 1200 food items were collected. Also, the elementary school is the recipient of a $500 grant from Exxon/Mobile for science and math programs. Finally, he mentioned that mid-quarter reports were due on December 11th and the elementary Christmas concert was held yesterday in the high school gym.
Feel free to contact us with questions and/or comments.