Perham-Dent school district borrowed $3.5 million last year
William Shakespeare warned to never be a borrower or a lender.
But for the Perham-Dent Public School District, there's no choice.
District officials estimated that Independent School District 549 borrowed $3.5 million in "aid anticipation certificates" last year.
According to Superintendent Tamara Uselman, the school district borrows money because it lacks a fund balance to cash flow expenses.
Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at firstname.lastname@example.org and we can help you.