CALDWELL -- A Canyon County judge has granted permission for the Nampa School District to borrow an undisclosed amount of money to cover district costs.
The Honorable George Southworth said it was clear that the money was needed for ordinary and necessary expenses, after reviewing district financial documents.
District spokesperson Allison Westfall says officials are unsure exactly how much money they'll need to borrow. However, she says the cash will be used to pay bills and salaries for the remainder of the 2012-2013 school year.
Westfall says today's action was the first step to the district's financial recovery. She says the money will be borrowed from state funding and be used for immediate cash flow.
While the district's estimated budget shortfall will be $4.3 million, exactly how much officials will need to borrow has yet to be determined.
The loan is separate from a supplemental levy which Nampa citizens can expect on the ballot in March.
Westfall says if the levy does pass, the district would have an option to take funds from that new revenue source as well.
She tells us the district is still working to make cuts, and to better estimate exactly how much money it needs.