Grady Co. teachers will receive holiday pay with borrowed money - WALB.com, Albany News, Weather, Sports

Grady Co. teachers will receive holiday pay with borrowed money

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By LeiLani Golden - bio | email

GRADY COUNTY, GA (WALB) –The Grady County Board of Education will borrow money to ensure teachers are paid before the holidays.

State budget cuts will leave the school system without enough cash on hand to meet its payroll deadlines before Thanksgiving and Christmas.

The Grady County school superintendent says many schools in our area will most likely be forced to take out tax anticipation loans to pay their teachers.

"Most teachers appreciate getting that check before Christmas and before Thanksgiving. They like to go gift shopping around Thanksgiving, etc. It just gives them that little paycheck boost," explains Dr. Tommy Pharis, the Superintendent for Grady County Schools.

Ameris Bank in Cairo approved a line of credit up to 2-million dollars but the school system doesn't anticipate needing the full amount.

They say the loan will only cost about $500 and will be paid back before the end of the year.

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