Latest Update: District officials reiterate investment was $1.2 million

Residents confused by media reports

By JANE FORD-STEWART
jford@cninow.com
Posted: Nov. 25, 2008

Before a turnout of about two dozen people Nov. 19, the Whitefish Bay School Board and its attorney tried to set the record straight after some media reports left an impression the district holds $200 million in risky investments.

At the meeting, school officials reiterated the district has $1.2 million at risk. The district borrowed another $9.7 million that also was invested, but it is not legally required to repay.

A New York Times story earlier this month and some Wisconsin Public Radio coverage gave the impression that Whitefish Bay had $200 million at risk, Whitefish Bay School District Business Administrator Shawn Yde said before the meeting.

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