Title: CS1-Termination of Spanish Academy Charter School Agreement

Recommendation:
I recommend that the School Board approve the Notice of Termination Agreement for Spanish Academy Charter School effective February 6, 2006, and authorize the Superintendent or designee to sign all related contract and documents.

Description:

The Governing Board of Spanish Academy Charter School met on February 6, 2006, and adopted the attached Notice of Termination.  The Termination agreement provides for the closure of the school and authorizes any and all actions necessary to complete the closure.  The District has been working with the staff and community of the school to explore options to keep it open.  These efforts have not been successful.  The basis for this decision by their Board is based upon the financial conditions of the school.

     A complete audit of the school's financial records has been requested.

     Outstanding issues will be addressed by the staff in the Department of Charter Schools.

     Any funds remaining in the school's accounts will be used to cover outstanding debt.

Financial Impact:
The Charter School will owe the School District approximately $51,700 based on the payments issued and the total estimated revenue for the fiscal year 05/06 per student enrollment as of February 6, 2006.

For Additional Information, contact:
Ann Killets/(akillets@palmbeach.k12.fl.us)
Janice S. Cover
Juanita W. Edwards

Attachments (list):
S A Data Panel.pdf
S A Notice.pdf
Contract Review List Spanish Academy.rtf