CLEARFIELD – The Clearfield school board will consider authorizing its business administrator to explore funding sources in case state revenue doesn’t become available due to the budget stalemate in Harrisburg.
Any final terms and conditions for funding will be presented to the board for approval, said Superintendent Terry Struble during the Finance Committee report during Monday night’s work session.
“We don’t see any change in our estimate so far as how long we can go until,” he said. “…We want to get an early jump and get in line.” Board member Tim Morgan asked if the district would get a line of credit or an anticipation note.
Business Administrator Sam Maney said he will see what the bank suggests for the district. However, he said the district was in this position before and had looked at a line of credit. “But it never came to fruition,” he said.
Maney said the district would draw from its general fund and reserves first, which he believes should last through December or January. He said he was neither certain how much the district would need nor of the interest rates.
When asked, Maney said that he didn’t have the figure for the district’s general fund available. He said the district continues to receive federal funding, and it’s been seeing a decent flow of local tax revenue coming in.
“I think we’re good until December/January. I hope it doesn’t come to that, but it’s pretty much a stalemate in Harrisburg. There isn’t any sense of urgency down there right now,” said Maney.