On May 5, the Plymouth School Board took a proactive step to help ensure that payments will be made on time in 2020. They approved a resolution authorizing borrowing of money for expenses paid through the Operations Fund and/or Debt Service Fund since there could be a delay in the receipt of tuition reimbursement and/or taxes for 2020 from the county.
Due to the COVID-19 crisis, taxpayers will have an additional sixty days without penalty to pay property taxes, which means the distribution of funds to the school corporation could be delayed.
The maximum limit for the amount of loans was set at $1,455,000 for the Operations Fund and $2,032,000 for the Debt Service Fund.
