Covert asks for cash advance

COVERT, Mich. — Covert Public Schools has asked for an advance on its monthly state aid so that it can make payroll on Oct. 15, according to The (St. Joseph) Herald-Palladium. The $148,000 payment typically wouldn't arrive until Oct. 20.

The October payroll is $200,000, bookkeeper June Parker reported to the board earlier this month, according to The Herald-Palladium.

The district saw revenue decline by $2.4 million after the state reclassified some taxes at the nearby New Covert Generating power plant, The Herald-Palladium reported. The district recently won a lawsuit seeking to overturn the reclassification, but also has reduced spending by about $2 million, according to the report.

The (St. Joseph) Herald-Palladium, "Covert seeks fast cash," Oct. 7, 2010

Michigan Education Report, "Covert owes $700,000 to MESSA," Feb. 22, 2010