The Bond County Community Unit 2 board of education received good news Monday night regarding cash flow.
Superintendent Wes Olson reported the district will get an early distribution of property tax money paid so far by county taxpayers. He said he’d spoken with Bond County Treasurer Katie Weiss who told him her office will issue a check for an estimated $1.8 million in property tax money. It’s only a portion of what the school district will ultimately receive, but Olson said it will help the district “breathe a little bit better” for now. Click below to hear more:
Earlier this month, the school board approved the establishment of a line of credit through Bradford National Bank to use if the cash flow dropped to a level that it was needed.
The tax cycle is later than usual in Bond County with the first installment deadline being August 31 and the second installment deadline of September 30. By law, the county distributes the money to taxing districts 30 days after each deadline, however, districts can request an early distribution of some of their tax money.