At the RE-5J School Board meeting April 2, the district’s administration requested the board increase the district’s approved borrowing limit with the state from $15 million to $20 million. The board approved the request.
For years, the State of Colorado has had an interest free loan program for school districts in order to smooth out cash flow timing issues. School districts typically don’t start receiving local property tax revenue until March. Weld RE-5J has participated in the program since the 2019-2020 school year.
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