ASHLAND, Ore. — The Ashland School District is taking out a $1.6 million loan to cover payroll this fall.
The district’s general fund was hurt by budget cuts this spring, forcing it to borrow money upfront to meet costs.
Business manager Jill Turner says the district expects to repay the loan after receiving about $10 million in property taxes later this year. Interest and fees on the loan will likely cost the district about $12,000.
Posted in News on Thursday, October 1, 2009 12:00 am
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