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Pocono News Section
Commissioners Extend Credit to Lyco C&Y
Commissioners Extend Credit to Lyco C&Y - Thursday, July 30, 2009 at 5:20PM EST
Reported by: Jeremy Deebel
Thursday, Jul 30, 2009 @ 05:20pm EST
Williamsport, Lycoming County-
With the state budget still in limbo, Lycoming County Children and Youth is getting a helping hand from the county commissioners.
The commissioners Thursday approved a request to secure a line of credit for Children and Youth through Citizens and Northern Bank.
The $2.5 million agreement will ensure the agency can meet its cash flow needs.
The move means ninety employees will continue to be paid and foster parents will receive their room and board payments.
And the county’s financial stability will allow Children and Youth to borrow the cash at favorable interest rates. | | |
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