Board members met Monday night at Gordon County’s Central office, and Financial Director Gail Farriba explained the school’s loan status.
“We’ve paid back the 2009 TAN (Tax Anticipation Note) on Jan. 31,” Farriba said, referring to the system’s $2 million loan from Regions Bank.
“There haven’t been many taxes collected since that time,” she added.
The system has managed to stay afloat this year by operating on borrowed money through two 2010 TANS: a $2 million loan from North Georgia National Bank with a 3.25 percent interest rate, and a $3.5 million loan from Regions bank, with a 2.76 percent interest rate.
TAN money allows the school to pay teachers and covers general expenses, Farriba said.
It remains uncertain when the board will have all of the loans fully paid off, and Farriba said money is slowly coming in from property taxes.
Cross honored
Gordon County Schools Special Education Director Ann Cross received special recognition for exceeding and meeting standards in the area of special needs students.
McCown explained that the award recognized two different areas of achievement.
“One is for meeting state targets for diploma (track) and one for exceeding standards,” McCown said.
Cross met the Excellence in the Education of Students targets of students with disabilities and was praised for increasing the number of student achievers.
Board members also met in executive session to discuss personnel.
The next meeting is at the Gordon County Schools Central Office, 205 Warrior Path Drive, March 8.
During the Monday, Feb.8 meeting, board members:
- announced the date of pre-K registration, March 1-31.
- announced the winter break holidays for students and staff, Feb. 15-16.
- approved a 2010-2011-school calendar change of furlough days for teachers, a decision that will allow the snow days in January to count as furlough days for teacher. Schools were called to reduce the year by three days by the governor.
- approved a field trip request by Gordon Central High School’s Future Farmers of America to Perry for a Livestock show in February and the Macon FFA state convention show in April.
Should read: Short term debt refinanced.
Unfortunately, GC BOE has learned the tricks not the trade.
2009 loans were refinanced by borrowing in 2010. Interest, so far: $106,800 [for which students/ taxpayers get nothing].
Utter nonsense when highly paid public administrators are not remotely prepared for the changes that are necessary.
There's nothing more demoralizing than leadership who can't clearly articulate why we're doing what we're doing.
If you didn’t like 2009, then you won’t like 2010.