Staying afloat while managing its fiscal responsibilities is the current game plan for Benton Harbor Area Schools. Two funding resolutions were discussed at Tuesday night's committee meeting, Superintendent Dr. Leonard Seawood made importance of the Tax Anticipation Note or TAN, which allows the district to borrow money against its taxes through Chemical Bank to cover employee salaries.
If the board passes the resolutions, it would give permission to the district to go after the Tax Anticipation Note and also the remaining $4-million from the emergency loan. These resolution will be voted on at a later date.
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In June the board approved a $6-million emergency loan application, the state only awarded $2-million. The district now needs the remaining four to pay for its services.
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If the board passes the resolutions, it would give permission to the district to go after the Tax Anticipation Note and also the remaining $4-million from the emergency loan. These resolution will be voted on at a later date.
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