Board set to approve 2011-12 school budget

Chuck Kajer, Managing Editor

The New Prague Area School Board is scheduled to approve its preliminary budget for the 2011-12 school year during its regular meeting Monday, June 27.

At a board workshop on June 13, the district's Finance Director Sandy Linn went over several items regarding the district's budget and finances with board members.

The first item was information regarding a resolution asking for approval for a line of credit with Associated Bank in the amount of $2.7 million. The amount would be used to assist with cash flow during times when the district's finances require it.

Linn said in the past, the district has purchased revenue anticipation bonds, which borrowed money against pending state payments. She said the line of credit would be more cost effective, since there is no charge if the district doesn't use it. If the district does need to borrow money, There would be an $800 initial fee and then interest.

Not withstanding a possible state shutdown