Bridgewater Late in Payments
to B-R School District
January 13, 2004
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Joseph Gillis Jr.

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January 13, Bridgewater late paying BR Schools, and what about all that borrowing?


Should the financial problems of Bridgewater force B-R to experience their own financial problems?  That appears to be the case as Bridgewater is repeatedly late in making its monthly required financial payment to the B-R School System.  As of this writing, and confirmed be a few individuals, B-R has not received payments due December 1 and January 1, totalling approx. $2.2M.  This is at the same time that Bridgewater has bonded approx. $5.5M to cover operating expenses of the town.  [Note, as of 1/15, December payment was sent and January will go out shortly.]

The important thing to remember is that the School District has financial obligations (like teacher payrolls) that must be met.  Just because the town of Bridgewater is experiencing cash flow issues, that is not a valid reason not to make its own required payments to others.  
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