Wichita Falls ISD chief financial officer Sherrod resigns, district seeking replacement
Wichita Falls ISD is advertising for a new chief financial officer amidst troubled budget times for the school system.
The district posted a job ad for a new CFO Thursday on wfisd.net.
“I had a job opportunity outside of WFISD that I just couldn’t pass up,” Tim Sherrod said in a message Monday to Times Record News.
He said he has worked with WFISD administration on the transition.
“I have truly enjoyed my years at WFISD and wish them all the best in the future,” Sherrod said.
Sherrod has been CFO over five years and will take a wealth of knowledge about school finance, a complicated system, with him when he leaves.
More:UPDATED: Dipprey: Personnel cuts completed at WFISD
He resigned from the district effective July 22, WFISD interim Superintendent Debbie Dipprey said Monday.
Sherrod said Monday that he "was able to work out a very amicable resolution with WFISD."
Sherrod's annual salary as CFO was $150,922, according to information the Times Record News obtained April 21 from WFISD through an open records request.
TRN has been seeking information about Sherrod's employment status for several days.
Communications Officer Ashley Thomas said Wednesday the Education Center was closed during the week of the Fourth of July, and many employees were out of the office, including her and Human Resources Director Cyndy Kohl.
“Mrs. Kohl is probably the only person who can give me that information so I will have to wait until she responds to me,” Thomas said in an email Wednesday.
The Times Record News first contacted Sherrod, Thomas, School Board President Mike Rucker and Dipprey July 1, a Friday when Thomas said the Education Center was closed, for comment about Sherrod’s employment status.
TRN reached out to WFISD again Monday for comment.
Sherrod had been working with other administrators and financial consultant Gary Patterson, a former superintendent in the San Antonio area, to deal with a budget shortfall.
District officials made difficult cuts in staffing and other areas to head off a projected $8 million to $9 million deficit for the 2022-2023 academic year.
More:WFISD goes into new fiscal year with budget deficit, continues to look for savings
But the School Board adopted a new budget with a shortfall of about $4.3 million June 27, and trustees plan to look for ways to fill the budget hole, according to a previous Times Record News story.
The deficit stems from declining enrollment.
More:Ex-WFISD superintendent Mike Kuhrt hired by Victoria ISD
The state funds school districts based on enrollment, and WFISD has lost about 800 students since the pandemic began in March 2020.
More:Rucker: WFISD School Board not informed of district's financial mess
Since WFISD’s enrollment projections overshot the actual number of students, the district ended up owing money to the state, including $7.1 million for the coming school year.
The budget adopted last month projected $114 million in revenue and $119 million in expenditures.
Sherrod was named the CFO in 2017 after serving as interim CFO beginning October 2016, according to a previous Times Record News story. Before he became interim CFO, Sherrod was WFISD's director of accounting and director of budget and finance software.
Sherrod was previously employed as Rockwall ISD's finance and budget software administrator, and as a customer service representative and finance product support specialist for Skyward, which is a school software management company.
WFISD is undergoing a time of great change amidst budget challenges, two new high schools under construction and a new superintendent expected to come on board.
More:WFISD picks lone finalist for superintendent
The district has invited the community to meet Donny Lee, who will be the new superintendent, at a come-and-go reception 5-6 p.m. July 18 in room 302 of the Education Center at 1104 Broad Street.
The School Board will have a regular meeting 6 p.m. July 18 in the board room at the Education Center.
Trustees named Lee the lone finalist for superintendent during a June 27 meeting.
State law requires Lee to be the lone finalist for 21 days before trustees can officially offer him the position, according to a WFISD media release.
He has been serving as superintendent of Buna Independent School district since April 2019 where he improved academic performance and fiscal management, according to the media release.
Before then, he was the Oakwood ISD superintendent, and he was a high school principal in Frankston ISD, according to the media release.
Former WFISD Superintendent Mike Khurt began a new job July 5 as deputy superintendent for Victoria ISD, according to VISD.
More:Ex-WFISD superintendent Mike Kuhrt hired by Victoria ISD
While the School Board accepted his resignation April 4, Kuhrt remained on the payroll until the end of June, according to a separation agreement.
Remaining with the district through June was financially advantageous to Kuhrt, who was able to continue collecting his salary of almost $1,000 a day when not using vacation days.
He was in line to receive about $112,440 in bonuses and other payments, according to the separation agreement.
This article originally appeared on Wichita Falls Times Record News: WFISD seeks new chief financial officer
