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Audit takes Schenectady school district to task

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The Schenectady City School District hasn’t been paying off its yearly temporary loans, costing it more than $824,000 in interest and fees over the past three years, according to a state audit. The state Comptroller’s Office released the audit Thursday. It criticized the school district for spending much of its savings and for borrowing more than it could pay back each year. The borrowing was through “revenue anticipation notes,” which are based on the belief ...

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