NORTH MANCHESTER - Manchester Community Schools Acting Superintendent Kim Thurston etched a bleak financial picture due to reassessment and sought approval for using the Indiana Bond Bank for funds. "We're going to need it in January," Thurston told the school board. The board unanimously approved the measure.Board members Larry Miller and Caryle McLaughlin were absent. MCS will find itself in an emergency cash flow situation in January, Thurston said."All I know is we have to make payroll." The corporation has up to $9.1 million available from Indiana Bond Bank. Indiana won't provide the basic grant distribution in January, Thurston said.And the state will hand out only one-third of the total amount of property tax replacement credit to school districts in the first six months of 2003.The districts usually receive half.
Matthew Weigelt, Times-Union Staff Writer- | July 28, 2016