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Trinity County School May Face Large Budget Shortfall

A Trinity County school district is facing a cash shortfall. According to the Trinity Journal, Trinity Alps Unified School District’s cash deficit is projected to grow to $561,000 in February if the district doesn’t receive its share of property tax revenue by then. The district is anticipating anticipated $1.4 Million from the county. Schools receive funding at different times throughout the year, and with county property tax bills not due until December 10th, it’s not unusual to run short on cash in January. The district is considering various short-term borrowing options. The simplest and cheapest is a loan from the Trinity County Office of Education to be repaid when the tax revenue comes in and not later than June 30. The district could also seek a tax revenue anticipation note through an outside entity that would likely cost around $50,000 to set up. Part of the funding issue is the money the district has spent on dealing with mold issues at the schools.