| New Business - Charter Schools |
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Title: Recommendation: I recommend that the School Board approve the Amendment to the Charter Agreement signed June 28, 2006 for an additional four (4) year contract. Description:
The School was offered a one year renewal contract on June 22, 2006, which will expire on June 30, 2007. The School was declared by their CPA in a financial emergency for their audit of fiscal year 2006. The School presented a Financial Recovery Plan (Exhibit A) to the District on March 9, 2007. According to the School's Financial Recovery Plan, they will be out of the financial emergency by June 30, 2007, and will have a positive fund balance by the end of the fiscal year, or June 30, 2007. The Amendment to the Charter Agreement includes language by which the School Charter is subject to termination should the School fail to comply with the conditions contained in the Financial Recovery Plan within the specified timeframe. The The Amendment to the Charter Agreement between The School Board of Palm Beach County and Toussaint L'Ouverture is attached. A copy of the Toussaint L'Ouverture Contract is on file in the Board Office for your review. Financial Impact: Projected FTE for TY 2007-2008 is approximately $774,992 net of the five (5%) percent administrative fee with a projected enrollment of 118 students. For Additional Information, contact: Ann Killets/(akillets@palmbeach.k12.fl.us) Janice S. Cover Juanita W. Edwards Attachments (list):
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