The Cherokee County School District will borrow $13.5 million from its future tax revenues to operate schools this fall.

Cherokee will join the state’s 85 school districts in issuing tax anticipation notes offered by the South Carolina Association of Governmental Organizations. The shortterm debt security program allows school districts to borrow money at a low interest rate until tax revenues are received in January. The amount will be paid back in spring of 2011.

The Cherokee County School District has issued tax anticipation notes annually since 2003. The district borrowed $12 million in 2009 and borrowed $10 million in 2008 from the state’s short-term debt program for school districts.

School officials have said the amount has increased in recent years due to state budget cuts along with state revenue coming in slower.

The Cherokee County School District expects to save $104,400 this year by eliminating its year-round school program. Students at Alma, Mary Bramlett and Luther Vaughan Elementary will return to a traditional school schedule for the first time since 2003.

The district has changed this year’s school calendar after discovering the Election Day holiday was not included on the calendar approved by the school board in February, interim superintendent Kim Bagwell said. Students will now be off for Election Day on Nov. 2.

The school district will be closed from July 1-12 so school administrators can take many of their 10 furlough days without pay for the 2010-2011 school year, Bagwell said. Teachers will take five furlough days during the school year.

The furloughs are expected to save the district $1.2 million this school year.

All county students will return to school on Aug. 16. The last day for students is June 2.