SOUTH WHITLEY - All is not financially well at Whitko Community School Corp.

The situation has gotten so tight that the board plans a special meeting March 24 at 6 p.m. at the central office, Pierceton, to discuss in more detail how the school corporation plans to financially restructure.

In his financial report to the school board Monday, Director of Financial Operations Phil Menzie said they received their last 2003 pay 2004 tax draw from Kosciusko County in early March. The draw from Whitley County should arrive at the end of March.

Tax draws for this year also will be pushed back at least two months due to last year's property reassessment being late and all the property tax appeals.

Asked by board chairman Dave Tranter about Whitko's financial situation, Menzie responded, "Over the past few months, as we have responded to your questions regarding the state of our financial affairs, we have discussed in great lengths the uncertainties of our revenue over, not only the recent past, but as far back as 2001 and 2002. We have also discussed the fact that our expenses, primarily our health insurance costs, have risen dramatically over the past few years.

"Now it is becoming very evident that primarily due to these situations, we are to the point that dramatic measures will need to be taken. These 'belt-tightening' measures will, most likely, result in major changes to our programs and staffing.

"While these changes will not be pleasant for anyone involved, they are necessitated by our declining financial condition. Whitko finds itself in a similar situation to many other school districts, not just in Indiana but nationwide. Even some of our neighboring school districts are facing similar dramatic cutbacks.

"As we work through the process, we will conduct a public work session to talk in more detail about the situation. At that time, more information will be shared with the public."

Tranter asked if the situation is that severe.

"Yes," Menzie said. "It is." [[In-content Ad]]