Idaho School District Facing More Money Problems
NAMPA, Idaho (AP) — The Nampa School District is facing a $1.2 million hit after a financial analyst discovered the money went to general operations rather than repayment of bonds.
District Finance Officer Michelle Yankovich told the Nampa school board Tuesday that the money is a “cash flow” problem and does not add to the district’s $5.1 million budget deficit. The district has been beset with money problems after budgeting errors that included counting almost $3 million in one-time money twice and over-expenditure of about $1 million.
Board members at the meeting voted to borrow as much as $6.3 million from D.L. Evans Bank to meet daily expenses. Interim Superintendent Tom Michaelson says he hopes the bond debt is the last of the financial problems to be uncovered.