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Oswego East High School.

There is a glimmer of progress at the Oswego 308 School Board meeting when the transferring of funds and tax anticipation warrants were part of the financial picture.

After facing financial difficulties the past six years, there was this news from Oswego Supt. Dr. John Sparlin.

Dr. John Petske, 308 chief financial officer, talked about the amount.

Those tax anticipation warrants will be used in the educational fund, the largest fund maintained by the district, the largest portion for teaching staff. Here was one board member’s comment. 

In addition, the Oswego 308 district will use the same amounts from a year ago which is an $18.8 million loan in various amounts from its operations and maintenance, transportation, and working cash funds into the education fund. That will also help minimize the borrowing amount and save financing costs. 

There is a three-year repayment on the loans required by state law. However, the district notes that the inter-fund loans will be repaid once the majority of the district’s property taxes are received for the levy year 2021.

Both measures will be voted at the Oswego 308 board meeting on January 24th.

You can listen to Mark Harrington's radio story by clicking below: