from WP: DC Misses Payment to Charter Schools

[Anonymous]

Good question; but in my opinion--perhaps naive--school money should be 'sacred'. And for charters especially, given that charters already have cash flow issues because of the weird quarterly chunks they receive from the city. They have to plan very, very carefully since at times in the year they receive predetermined yet seemingly arbitrary larger or smaller portions. For example, they receive their largest portion in late fall, when most of their yearly 'start-up costs' come in early fall/back to school. After they are required to do this meticulous planning/setting money aside etc./ to turn around and not be able to pay their teachers on time during the summer (already making sacrifices at times to work in the charters they believe in) is very troubling. To me, it is just disregard on the part of the Mayor's Office.

[Anonymous]

Managing cash flow, including payroll. That's what banks help businesses do. That's why a banker, Tom Nida, is chairman of the board of charter schools, and why every charter school has a Board, including at least one person with business acumen.

How can you believe in the planning of a school which is so insecure as to be unable to secure short term loans against verified enrollment and DC obligations?

[Anonymous]

Anonymous wrote:Managing cash flow, including payroll. That's what banks help businesses do. That's why a banker, Tom Nida, is chairman of the board of charter schools, and why every charter school has a Board, including at least one person with business acumen.

How can you believe in the planning of a school which is so insecure as to be unable to secure short term loans against verified enrollment and DC obligations?

Not having a secure cash flow makes it difficult to secure loans..bit of a conundrum for charters, no? How about the DC government just fulfill its obligations to them in a timely way--and they plan for that?

[Anonymous]

All of these charters have lines of credit with banks!