By Cynthia Grau/WJEZ News
With local school’s fiscal years ending June 30, many administrators are making alternative plans to make their budgets work in the fear the state won’t pull through with their required funding.
Superintendent of District 90 schools Jon Kilgore admits that they’ve gone as far as to secure a loan if that ends up happening.
“In the event that the current budget impasse doesn’t get resolved in the next couple weeks, and it’s hard to think if it hasn’t happened yet, it’s going to, although we remain hopeful – we have taken out a bridge loan with a local bank. Basically, it’s a line of credit that says if it comes to bear that we cannot meet obligations as a result of state shortfalls, then we would access that line of credit. We certainly hope that’s not the case, but I felt like we should do that, just in case things got really bad and we didn’t get general state aid,” Kilgore said.
