Borrowing Money For The Public Schools PDF Download

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ...on taxes due in December begin in January and continue through March and sometimes into April, while payments on taxes due in June usually begin in July and extend to the end of August. In September, October, November, and May, and usually in December, April, and June, no tax money is received. The expenses of the Board of Education, on the other hand, are distributed rather evenly through the months of the school year in which the schools are in session. In the tuition fund, especially, money accumulates during the summer, but in recent years the Board has not had enough money on hand at the opening of the school year in September to support its activities until tax money has been received in January, February, and March. Money to bridge the gap has, therefore, been borrowed in November or December and has been repaid upon the receipt of tax funds in January. Moreover, the tax money received in January, February, and March does not suffice to carry the Board to the end of June, and it has been necessary again to borrow in May or June against the tax money payable to the county authorities in June. The fact that a portion of the money received each half year from the county treasurer must be expended for the payment of notes already issued contributes, of course, to the necessity of again borrowing before the expiration of another halfyear period. Table 18 shows that borrowing has always occurred in months in which either no tax money, or but a small amount, was received from the county authorities, and when the combined cash balances in the tuition and contingent funds were low. It has been suggested that the necessity for borrowing might be removed by changing the periods in the year at which tax money is paid to the Board of Education....