Reply to Eagle Academy council hearing video is available

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[quote=Anonymous]Dang this is long, but it's super interesting and substantive.

Next panel, starting at 2:35-- Michelle Walker-Davis, Shantelle Wright, Will Henderson (PCSB staff). Lengthy explanation of financial oversight, with slides, you can read it online here: https://lims.dccouncil.gov/Hearings/hearings/572
Basically they told Eagle to make budget cuts and Eagle didn't make them fast enough. PCSB was very engaged, but Eagle's board pulled the plug so suddenness is their fault and the PCSB couldn't do what it would otherwise have done (a more orderly revocation or maybe a different merger partner?)

PCSB plans these improvements:
● We will adjust our criteria for when schools get placed on an FCAP.
● Increase visibility of the FAR which is an important financial monitoring
and assessment tool.
● Communicate with school board members in addition to the school
staff when a school is added to the Monitoring List to ensure full
transparency of the financial health of the school to all relevant parties.
● And, we will publish our Financial Oversight Overview, a resource that
encompasses what we do and how we do it. Publishing it will provide
complete transparency at every step of the process.
When appropriate, DC PCSB will publish the FCAP on the School’s
Profile Page on our website
● Publish and regularly update the Financial Monitoring list; and,
● Request the school share the FCAP at its next School Board Meeting.

Mendo digs in on PCSB not following its stated procedures for when to implement a FCAP, with so many red flags. Trayon White asks a bunch of questions. Walker-Davis explains that the Friendship acquisition wasn't approved in part because there were so many schools in the area that could take the kids, and also because enrollment was so low, viability was in doubt even under Friendship takeover.

Parker asks if the PCSB is at fault. Walker-Davis says the Eagle board was the one who closed it. PCSB has reflected and feels they didn't communicate enough with the Eagle Board (as distinct from school staff). Parker asks about Joe Smith's behavior and complaints, Joe Smith's loans, real estate sale, lots of stuff. Walker-Davis says they would have engaged in a revocation evaluation and it's like 15-30 days, but they could have decided to prop it up for the remainder of the year.

Allen re Nevada and Ohio, unhappy that the PCSB doesn't track that at reviews, they found out when other people did. What happened to the $4m in regular funding. Will Henderson says Eagle has $1m frozen in their bank account. $1m was spent on payroll, $1.3m to pay outstanding line of credit for rent etc., $1m for prior year and summer expenses. Trying to get it back. Loan from Joe Smith to the school bore interest(!), he has not been paid back.

Henderson: What gave you confidence they could turn it around? Wright: Thought they could make budget cuts and enroll more kids in August/Sept, and PCSB could have provided funding and orderly closure. Henderson pushing her bill to require training. Asks how many LEAs are currently meeting only minimum targets. 7 are on monitoring list, 3 FCAPs, 70% of the schools met all minimum targets for FY2024.

Frumin asking about Joe Smith salary, was PCSB monitoring? Walker-Davis says ultimately it's up to the schools though they may force a discussion of it. Mendo discussion of whether the FCAP was realistic-- can they actually increase enrollment and cut staff? PCSB is saying it was realistic. Parker asks if PCSB is aware of any legal action against Joe Smith. They are not but they did refer concerns to DCOAG. Henderson flagging a lot of things the PCSB doesn't track and didn't have (like missing rent payments). Mendo asks how the PCSB approved it in 2023, Walker-Davis says it's a look-back and didn't capture current-year issues or decline trends. Review flagged concerns but it just wasn't bad enough to deny or FCAP. The AG has been told of the concerns, AG will determine whether civil or criminal.

Finis.

[/quote]

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