The Leon County School Board will consider borrowing up to $30 million in the short term to cover payroll while it waits for property tax revenue to arrive.WATCH FULL REPORT BELOW: Leon County schools seek $30M short-term loan t o cover payroll while waiting for property tax revenueLeon County Schools Superintendent Rocky Hanna said the district receives only about 29 percent of its revenue during the first half of the school year. The rest arrives later, including millions in property tax revenue that comes closer to December. Payroll alone costs the district about $21 to $22 million each month."We've never borrowed money since I've been in office over the last 10 years. But now, we just don't have those reserves because we've been living within our means," Hanna said.Leon County is not alone. Brevard County's school board recently approved a $100 million tax anticipation note to support its cash flow while it waits for property tax revenue. Escambia County authorized up to $40 million for operating expenses.Florida law allows school districts to use this kind of short-term borrowing when money on hand isn't enough to cover budgeted obligations. In the past, Hanna said LCS used money from its own capital reserves to cover costs.I asked Hanna about criticism around the district's spending."There's, I think, a misconception that the school district is fat, especially top-heavier fat. That is simply not the case. But we'll look at every single thing that we can to possibly cut to make sure our budget stays balanced," Hanna said.The district calls the loan a temporary solution to a current cash-flow problem. Hanna said the district will pay off the loan when tax revenues come. The proposed loan carries a fixed interest rate of 3.95 percent. Hanna said the district will invest any portion of the $30 million it doesn't need to help offset some of that cost.The school board is expected to vote on the loan Tuesday, Oct. 13.This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.Want to see more local news? Visit the WTXL ABC 27 Website. Stay in touch with us anywhere, anytime.Like us on FacebookFollow us on Instagram and X. ...read more read less