The word is in on the loan to the State Government of Minnesota. It appears we will be lending them just short of $400,000 through March and April. We are the only school district in Carver County that has to lend money to the state, due to our board's good job with the overall financial picture of the district.
Fortunately, we will not be one of the districts that is forced to borrow money to make ends meet and pay bills such as salaries. This will affect our overall picture through a loss of interest on our funds, although not as great as we originally suspected. Hopefully the economy will turn around and the state will get back to positive balances in their accounts as well.
We should be getting ready to issue some bid specs for some parts of our projects in the somewhat near future. This will be an exciting time for the district. I believe the elementary school will look like a brand new school when all the work is completed. The interior of the building remains in great shape, so the improvements will last a good many years into the future.