Ellsworth School District borrows to ensure cash flow

Ellsworth School District must again borrow to have adequate cash flow, Supt. Barry Cain said. The School Board voted Nov. 8 that loans through M&I Bank will not exceed $1.5 million and interest is not to exceed 18 percent.

Cain said temporary borrowing has been necessary in recent years and five to six months of negative cash flow is projected for this year. The district is in the third year of an agreement with M&I Bank.