School district may seek routine advance to cover costs – Daily Republic

By Susan Winlow

School district staff is seeking approval Thursday to request a California “constitutional advance” from the county Board of Supervisors because of a deferral of regularly scheduled revenue payments for 2013-14 by the state.

This usual deferral by the state could cause the district to come up short in meeting its payment obligations for this year.

If approved, the Vacaville School District would request $14.8 million, which is 85 percent of 2014-15 accruing property tax revenues. The advances would be made available to the district between July 1, 2014, and the last Monday in April 2015.

via School district may seek routine advance to cover costs Daily Republic.

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