Somerset still owes $460,098 (nearly one-half million dollars) from fiscal years 2013-2014 to corporation and business entities like SouthCoast Educational Collaborative, Whitsons Food Service, Advance Air & Heat, W.B. Mason, Company Store, Southeastern Regional School District, H&L Bloom, and Hague, Sahady, & Co.
As far as I know, the Somerset Public School district (K-8) still has significant debts to these entities, debts that are now very old and accruing high interest. If you remember, there was a Special Town Meeting on 12/1/2014 about these late bills from FY 2013-2014. Voters did not approve of paying these late bills at that Special Town Meeting (they needed a 90% Yes vote and they failed to garner that high percentage).
So, what happened? Why has there been no information provided to the taxpayers of Somerset about the status of these unpaid bills? Was litigation filed by the creditors? Have all these entities decided not to collect the debts from Somerset? What is the School District's plan to resolve payment of these owed debts? In a nutshell, what is the status of the nearly one-half million dollars in unpaid debts? We have the right to know!!
It is so strange to me that these bills were such a hot topic in late 2014 and now we have heard nothing about them since that Special Town Meeting. At this point, one would expect the creditors to file litigation to protect their interests and secure the debts. It would be very surprising to me if all of these creditors simply wrote-off the debt as a cost of doing business with Somerset.
The taxpayers of Somerset deserve a forthright explanation and status of the nearly one-half million dollars in unpaid debt from over two years ago! We have the right to know the status of the debts and the District's plan to pay the substantial debts owed. We should not have to ask; the District should be transparent and honest with the taxpayers about what is going on with old debts that significantly impact Somerset's credit rating, bond rating, and reputation...