School Board To Take Out Loan To Make Ends Meet
As it has had to do for the last several years (since at least 2018-19), the St. James Parish School Board must borrow money to make ends meet for the remainder of the year and then turn around and repay the loan using next year’s property tax revenues, which the District receives a majority of in January of each year. During Tuesday evening’s Board meeting, the Board unanimously voted in favor of issuing up to $5 million in Revenue Anticipation Notes, which the District will use to fill budget gaps and cash shortfalls. It should be noted the Board does not have to use the entire $5 million as in 2021 it needed $2.5 million and in 2022 needed $4.5 million.