The Bond County Community Unit 2 Finance Committee met Monday evening, and Superintendent Wes Olson reported there will be a cash flow problem in July and August.
A big reason is the delay in the receipt of real estate taxes. Tax bills are expected to be mailed by the end of July, meaning distribution of money to taxing districts would not occur until September and October.
He recommended that the district look into setting a line of credit with a local bank to cover any shortfalls that may occur in the next couple of months. Committee members agreed with the recommendation, which will be presented to the entire school board at the July 20 meeting.
It was reported the state still owes Unit 2 $263,915 from the past fiscal year for categorical programs.
The Policy Committee also met Monday, reviewing several policies needing to be updated due to changes in state laws.
Other changes in district policies are necessary to list Olson as the new superintendent. Also discussed was the high school credit for proficiency policy, policy for inventories, and succession of authority policy for attendance centers.