John Glenn School Corporation
Administrative Guidelines


The School Board has directed that the Treasurer monitor the financial status of each fund established in the School Corporation. A monthly written financial report shall be given to the Board at an official meeting at which time the Board will be informed of any emergencies that may exist in any of the funds.

The Treasurer, when directed by the Board, shall initiate procedures to alleviate the emergency by obtaining revenue from advance draws, emergency loans, and/or tax anticipation warrants.

Advance Draws

The Treasurer shall apply to the County Treasurer to obtain advances in revenue which may be available from the tax levied by the School Corporation and collected by the County Treasurer. The request shall be made monthly.

Emergency Loans

An emergency loan may be made by the issuance of a note(s) by the School Corporation. To initiate the procedure the Treasurer shall prepare a resolution for consideration by the Board to establish that an unbudgeted emergency exists in a particular fund(s). The procedure for the issuance of a note(s) is the same as for issuance of bonds.

The Board shall include the repayment of the note(s) in the annual budget for the next year. Such repayment shall not require an excessive levy for the General Fund. Interest on the note(s) may be budgeted and paid with revenue from the Debt Service Fund.

Tax Anticipation Warrants

When a Corporation determines that the current expenses within a fund(s) will exceed the available revenue in that fund, the Board may declare that an emergency exists and authorize the Treasurer to borrow money in anticipation of the receipt of known tax revenue. The Superintendent shall prepare a resolution declaring the emergency for consideration by the Board. The principal of the warrants shall not exceed eighty percent (80%) of the taxes to be collected and distributed to that fund(s) in June's or December's property tax settlement, whichever is appropriate. If the amount of the warrants exceeds $20,000.00, the procedure for the sale of the warrants shall follow the required procedure for the selling of bonds, except that the notice of sale need not be published outside the county nor for more than ten (10) days before the date of the sale.

The payment of the principal of the warrants shall come from the tax settlement for the fund(s) for which the warrants were issued. The interest on the warrant(s) may be paid from the debt service fund.