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Meeting tonight to address Morrill school district finance concerns

Meeting tonight to address Morrill school district finance concerns
Morrill Schools Superintendent Joe Sherwood

The Morrill School Board will hold a community meeting this evening designed to alleviate the concerns of a community group that feels the district’s finances are in trouble.

Superintendent Joe Sherwood admits the district’s finances were in shambles seven or eight years ago. But he says the district is now in its strongest net cash position  and a million dollars better than  seven years ago according to auditor Rauner and Associates . Sherwood also notes the strong financial position is coupled with  growing enrollment each of the last three years. Sherwood hopes providing the information will change the minds of about thirty individuals raising the concerns.

Sherwood believes the questions are based on documents involved with the district’s bonded indebtedness that the citizens have not asked school officials about.

He says the documents show $4 million in debt when the figure is closer to $3.2 million. He says most of the difference involves a $600,000 discount regarding interest on federal bonds that was not included in budget documents to the state.

The meeting tonight is scheduled for 6:30 at the American Legion Hall.

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