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GUARD move almost complete; 700-plus working at downtown company

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Five Luzerne County Council applicants pitch their credentials

<p>KINGSTON &#8212; Wyoming Valley West school board authorized borrowing to cover a potential cash flow problem created by a cyber attack on Luzerne County computers. At a special meeting Tuesday morning, the board approved a tax anticipation note as a precaution, concerned that money from property tax bills that should already be flowing won&#8217;t be available for at least two more weeks.</p><p>The resolution approved unanimously with two board members absent did not offer any specifics, but former business manager Joe Rodriguez &#8212; who has been working unpaid as a consultant &#8212; said it would be a one-year loan ranging from $3 million to $5 million at &#8220;nominal interest.&#8221;</p><p>Rodriguez said the bank used as district depository &#8220;reached out&#8221; to offer the short term loan, known as a TAN, because of problems with tax bills.</p><p>The district typically sends out property tax bills the last week of July and starts receiving payments almost as soon as people get their bills, Rodriguez said. But the first step in getting the bills out is to have the county certify assessed values, and that hasn&#8217;t happened because a cyber attack locked the county out of its assessment database.</p><p>The county has been working to resolve the problem, initially expecting a delay to Aug. 1 but recently pushing it to Aug. 19. Rodriguez said he got confirmation from the county Monday that the process will be completed Aug. 19.</p><p>The district must then check assessments, homestead exemptions, and millage for each of the nine municipalities it serves before sending the information to Diamond Printing Co., an out-of-state company contracted by the district to print and mail the bills. Rodriguez said Diamond is very fast and efficient. He predicted that residents should get their bills as early as Aug. 21.</p><p>The concern is that the district&#8217;s spending rises sharply once school starts, from about $900,000 a month in August to about $1.4 million a month in September, Rodriguez said. While the district may not need to draw on the TAN money, he added, the board opted to take out the loan rather than risk running out of cash just as payments due rise.</p><p>Rodriguez also said property owners will still get the full two months to pay the bills early and qualify for a 2 percent discount. The due dates on the bills will be adjusted to reflect the delay in mailing the bills.</p><p>Wyoming Valley West called a special morning meeting to approve the TAN &#8212; the first time such a short-term loan has been taken out in at least 20 years, Rodriguez said.</p><style>
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<div class="metaInfo"><bylineMeta><p>By Mark Guydish</p><p>mguydish@www.timesleader.com</p></bylineMeta></div>

Wyoming Valley West approves borrowing due to tax bill delay