| New Business - Charter Schools |
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Title: Recommendation: Description: The charter school was offered a one-year renewal contract on June 28, 2006, with specific conditions prior to entering into a long-term contract. The conditions were to resolve or develop a plan to resolve the identified areas of deficiencies. There were five areas of deficiencies, i.e. students' academic growth, increase student enrollment, positive cash flow, financial corrective action plan and governance. (See attached Exhibits A - E) The school was declared by their CPA to be in a financial emergency for their audit of fiscal year 2006. The school presented a Financial Recovery Plan (FRP) (Exhibit A) to the District on March 20, 2007. According to the school's FRP, they will not be in a state of financial emergency with a positive cash flow by June 30, 2007. The Amendment to the Charter Agreement includes language by which the school's charter is subject to termination, should the school fail to comply with the conditions contained in the FRP within the specified timeframe. The Addendum to the Charter Agreement for Hope Learning is attached as Exhibit F. The Amendment to the Charter Agreement between The School Board of Palm Beach County and Hope Learning is attached. A copy of the Hope Learning Contract is on file in the Board Office for your review. Financial Impact: For Additional Information, contact: Attachments (list):
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