The Scottsdale Unified School District governing board has approved a plan to balance its budget even as Maricopa County recoups nearly $24 million from the district.
A recent ruling in a class-action lawsuit means certain Maricopa County homeowners are owed refunds from special taxing districts throughout the county.
According to estimates by the Maricopa County Treasurer’s Office, tax districts, like the one for Scottsdale Unified, owe about $330 million in total
The SUSD governing board approved a plan that allows the district to use $10 million tax anticipation notes while funds are recovered.
"It's just a temporary loan, really. To give to you the cash you need to get through whatever time frame," said SUSD Chief Financial Officer Shannon Crosier.
She says the district will likely finish paying the county by December.
“So the district's going to have to look at that, manage their cash in a way to see where are we at, how long will we need the TANS," She said.
Crosier says the district may adjust tax rates to recover the $24 million it had in its budget.
