After my request to the chairman of the school board to obtain a copy of Whitsons contract, it was posted to the confidential school board page of Timberlane.net. Since this is a public document, I link it here:Whitsons FSMC Contract 2014-15 – GREEN
The loss guarantee is found in section 6.1E where is says that loses will be reimbursed to the extent of the management fee which is $35,000 a year. The “Administrative Fee,” which is not reimbursable, is $65,000 a year.
The contract is up for renewal on June 30, 2015.