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Milton School Board Discusses Finances

Earlier this week, the Milton School Board met and discussed short term cash flow borrowing. The district has been recommended to enter into a financial pool with other districts that will split the borrowed bonds. The board anticipates a participation in the pool of $1.4 million borrowed, and next time having the approval to go to financial institutions for a line of credit of $1.9 million. The board will pay back the line of credit as soon as possible, while the borrowed money gets paid back about a year later. The line of credit discussion was tabled for another meeting, while the discussion over borrowing money was voted on and passed.

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