The Nevada County Board of Education, in collaboration with Superintendent Holly Hermansen and Associate Superintendent of Business Services, Donna Fitting is preparing to assist Nevada County school districts manage current cash flow issues caused by state deferrals- delays in funding. Donna Fitting explains how the ongoing deferrals cause problems with districts.
The Nevada County Superintendent of Schools (NCSOS) is one source of funds from which a school district may borrow short-term money. Though the NCSOS is under no obligation to provide loans, Holly Hermansen, Donna Fitting, and the Board believe that working with the districts is the right thing to do.
Currently the Board of Trustees and NCSOS staff are identifying an acceptable amount to make available for loans and the criteria in which to decide who and how much will be loaned.