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Cash Crunch in Montgomery Schools
Tuesday, 14 July 2009

July 14--  The Montgomery County school board is borrowing money to cover a cash flow problem.  At its July meeting Monday night, the board agreed to borrow $500,000 to be repaid within six months.  The school system will pay Altamaha Bank and Trust 3.25 percent for the tax anticipation loan.

The board also got some bad news about state funding for the new middle and high school it wants to build.  Because of a decrease in enrollment, the state is reducing its share of funding from $6 million to just over $5 million.  School Superintendent Dr. Lynn Batten says the board is asking its architect to reduce the size of the new building because of the cutback.  Enrollment in the schools has decreased by 227 students in the last four years.  Montgomery County voters will be asked to pass a Special Purpose Local Option Sales Tax in November as collateral for bonds to build the new school.

Meanwhile, the school board has a meeting set for July 27th to set the school tax millage rate for the year.  The rate of 12.1 mils will be the same as last year, however, it should bring in more revenue because the Montgomery County tax digest has increased by $2.2 million this year.

Dr. Batten reported Tuesday the Montgomery County School System made Adequate Yearly Progress (AYP) this year.  All three schools met state standards.  Last year, the high school's graduation rate kept it from making AYP, however, this year it's graduation rate of 76 percent exceeded the state average.

 
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