ISD 518 approves short-term borrowingWORTHINGTON — In light of a possible state government shutdown, the District 518 Board of Education decided Tuesday to pursue short-term borrowing.
By: Ana Anthony, Worthington Daily Globe
WORTHINGTON — In light of a possible state government shutdown, the District 518 Board of Education decided Tuesday to pursue short-term borrowing.
“The school district is in a dire strait of concern related to funding and keeping things going,” said District 518 Superintendent John Landgaard
Landgaard believes the government shutdown in Minnesota will become a reality.
“Currently the estimates we have with our fund balance and cash on hand, we can fund the district, it is estimated, until Sept. 1st,” he said.
Landgaard explained that the short-term borrowing will allow schools to run for an additional six weeks beyond Sept. 1.
“Hopefully by then, common sense starts to play in, and they find a better option for this,” he said.
Board members were in consensus with Landgaard and District 518 Director of Management Services Dave Skog to consider short-term borrowing.
“I think we have to refuse being lured into being used as pawns by the two sides in this ongoing, high-stakes game of chicken being played out with kids being the losers,” said Linden Olson, District 518 board member. “I think we need to keep operating as normal until we are forced to shut down.”