Woodstock Academy was established in 1802 with a private charter to “maintain and operate a school and engage in educational enterprises in . . . Woodstock for the benefit of the inhabitants of said town and vicinity.” The Academy’s Trustees have an affirmative fiduciary and legal obligation to manage the school in a manner consistent with this mission.
The Academy has grown to be a large regional high school and become a critical asset to the area’s public education system. In 1992, the school was financially stabilized, expanded and reconstructed with a $14.5 million bond issued by Woodstock and Eastford, guaranteed by Woodstock, and with a long term funding commitment by the State of Connecticut to repay the bonds. Consistent with the Academy’s charter and bylaws, the statute providing the State financing commitment required a governance structure to insure ongoing collaboration between the Academy and its sending towns.
The Academy Trustees have recently prioritized expansion of its student population and physical facilities over the academic environment of the smaller scale school many residents prefer, even while at least one sending town (Brooklyn) is examining leaving the Academy. The Academy’s recent problems all relate directly to this expansionist objective. These include a large land acquisition without proper due diligence and the associated legal default on the school’s primary bonding. The rapid increase in the student and staff population has caused overuse of the school’s septic system resulting in its premature failure and the need for a new sewer line. The budget conflicts with the Woodstock Public Schools include possibly improper retention of overcharged tuition funds that have been set aside in a growing cash reserve. Read the rest of this entry »
