LEWISBURG – A judge has approved emergency short-term borrowing for Montour County due to the state budget impasse, but another local county has decided against borrowing. Union County officials say they are financially stable and will not seek a Tax Revenue Anticipation Note or TRAN.
Diana Robinson is chief clerk in Union County, “If you do the TRAN, you are obligating the revenue from your taxes, which the county gets their taxes in the beginning of February. Our anticipated taxes for the rest of the year are relatively small.”
Robinson said a TRAN must be paid back by the end of the year, “If you fail to do that, it has not only auditing implications, but it also could affect your ratings with bonds, etc. etc.”
Since the state has not yet passed a budget, counties are not receiving state reimbursements. Without funding, some counties could be forced to stop paying vendors, shut down services or stop paying employees. (Ali Stevens)