The future of Cherry Grade School

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CHERRY — About 150 Cherry residents and friends attended a town meeting at the Cherry Grade School Thursday to discuss the future of the school.

“It is a very heart-wrenching experience to give up your school if that’s what has to be done,” Superintendent Jim Boyle said. “It tears at your heart because it’s the very foundation of your community.”

The purpose of the meeting was to explain to the community how a combination of evaporating state aid, shrinking property values and declining enrollment had led the board to pursue closing the school at the end of the 2013-14 school year.

Board President Rebecca Hoscheid began the meeting by saying the board has discussed closing the school for quite a few years, and is united in its decision.

Next on the agenda was Brent Appell from the Illinois State Board of Education, who discussed his review of the school’s finances.

Appell focused on the education fund, through which much of the school’s activities are paid. The fund took in $712,000 in revenue in 2008, but that figure has been dwindling ever since.

At the end of last year, the education fund showed its first negative balance of $32,000, which caused the board to sell $200,000 in working cash bonds. This year there’s a budgeted deficit of $65,000 in the education fund, which is projected to drop to almost $250,000 the following year.

In overall fund balances, the district ended last year with $209,000. This year it is projected to end with $112,000, and next year the overall balances will drop to a negative $137,000.

To balance the budget the board would have to make cuts, and Appell said it’s hard to find ways to cut with only five teachers.

Borrowing is another option, but Appell said the district is limited to about $200,000 it can issue in bonds.

And even though the equalized assessed valuation of the district is going up, that will only bring in an additional $10,000.

A member of the audience asked why the board didn’t come to the people a couple of years ago if finances were so bad.

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