5 Missouri charter schools deemed financially stressed
Tuesday, October 16, 2012 | 7:04 p.m. CDT
KANSAS CITY — The state says five Missouri charter schools are financially stressed.
Four of the schools are in St. Louis — Carondelet Leadership Academy, Grand Center Arts Academy, South City Preparatory Academy and Jamaa Learning Center. The fifth is Pathway Academy in Kansas City.
This is the first time the state has declared schools financially stressed under a new state law that requires more supervision of the publicly funded but independently run schools. The designation is based on ending balances in two key funds.
The ruling gives the schools 45 days to submit their 2012-2013 budgets and plans to improve their financial condition. The schools' sponsors then will make suggestions for improvements. The Missouri Department of Elementary and Secondary Education can withhold financial aid if the schools fail to comply.
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