School board to take out $13 million loan - WALB.com, South Georgia News, Weather, Sports

School board to take out $13 million loan

June 29, 2005

Albany- Wednesday, the Dougherty County School Board held a special called meeting to vote on a tax anticipation note. The board unanimously agreed to borrow up to $13 million that will be repaid at the end of the year.

Finance officials say right now the general fund balance isn't enough to see them through the rest of the year, so they will borrow the money and pay it back once the county collects it's taxes and gives the school system it's share.

"The bulk of the school system's money comes in November (and) December when taxes are collected, so there's typically a cash flow late in the year or at this time of the year until November," says board member David Maschke.

Finance officials say the system should have no problem repaying the money by the end of December. It typically collects between $20 and $25 million during the last week of December.

Feedback: news@walb.com

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • City of Albany to host Summer Youth Programs Fair

    City of Albany to host Summer Youth Programs Fair

    Monday, May 29 2017 5:48 AM EDT2017-05-29 09:48:34 GMT
    The City of Albany wants kids to take advantage of the various programs happening this summer (Source:WALB)The City of Albany wants kids to take advantage of the various programs happening this summer (Source:WALB)

    Dougherty Co. students are now out of school for the summer and the City of Albany wants to inform students about various summer programs. Fight Albany Blight will host a Summer Youth Programs Fair on Tuesday, May 30, 2017, from 6:00 p.m. to 8:00 p.m. at the Mt. Olive Community Recreational Center.

    More >>

    Dougherty Co. students are now out of school for the summer and the City of Albany wants to inform students about various summer programs. Fight Albany Blight will host a Summer Youth Programs Fair on Tuesday, May 30, 2017, from 6:00 p.m. to 8:00 p.m. at the Mt. Olive Community Recreational Center.

    More >>
  • One dead in Albany wreck

    One dead in Albany wreck

    Monday, May 29 2017 4:29 AM EDT2017-05-29 08:29:42 GMT
    (WALB image)(WALB image)

    One person was killed and five others were injured in a wreck in Albany early Sunday morning.

    More >>

    One person was killed and five others were injured in a wreck in Albany early Sunday morning.

    More >>
  • Service honors fallen service members at Albany's Field of Crosses

    Service honors fallen service members at Albany's Field of Crosses

    Sunday, May 28 2017 10:19 PM EDT2017-05-29 02:19:11 GMT
    (Source: WALB)(Source: WALB)

    Several dozen people gathered Sunday to remember and honor fallen military service members. It was the annual Field of Crosses Memorial Day Service at the Albany Mall. Speakers talked about the focus of Memorial Day being fallen service members.

    More >>

    Several dozen people gathered Sunday to remember and honor fallen military service members. It was the annual Field of Crosses Memorial Day Service at the Albany Mall. Speakers talked about the focus of Memorial Day being fallen service members.

    More >>
Powered by Frankly