Town Still Waiting For News On Bank Loan Application

WINSTED, Conn. (AP) – Winsted officials are seeking financial help to avoid closing local schools.

The Republican-American reports that Superintendent of Schools Thomas M. Danehy has told the state Board of Education he might have to close the schools in December because the district could run out of money.

State education officials are investigating whether the town is violating state law that requires school districts to appropriate at least a certain amount each fiscal year.

Winsted must budget about $20 million.

The selectmen have voted to ask taxpayers to approve a $2 million bank loan.

Finance Director Robin L. Manuele has told selectmen a bank has said it’s concerned because the town does not have a completed audit for 2011-12 and is unable to fully disclose its financial position.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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