FP Board OKs cash-flow loan
CRYSTAL FALLS—Forest Park’s School Board voted at its July 22 regular meeting to ask for bids for a loan, but it’s nothing out of the ordinary.
It’s a short-term cash-flow loan, to help the district pay its bills during the first month or two of the new school year. The amount of the loan is $215,000, and the term of the loan is only a few months.
This is standard procedure at the start of each new school year at Forest Park (and many other districts), when it faces a mountain of unpaid bills but only has received a little of its property tax revenue.
Within months, the situation will right itself—more property owners will have paid their taxes, and spending slows down.
● Forest Park plans to host an “active shooter” drill on Thursday, Aug. 22, but it needs volunteers from the community to help with the simulation. The volunteers are needed from 8 a.m. to 12:30 p.m.