Reply to Charter school Financial Analysis Report is up

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Of note:

Achievement Prep: "Declining financial health" but a lot of cash on hand.

Breakthrough: "Declining financial health" but still in okay shape.

Capital Village: Declining, red flags on all six indicators. On a corrective action plan and up for 5-year review this winter. A further enrollment decline is forecast for the current school year. Seems like occupancy cost relative to enrollment is the main problem.

CMI: Satisfactory despite their financial stuff being complicated.

Eagle Academy: Has an entry despite having closed, but no info we didn't already know.

Girls Global: "Declining financial health", enrollment not on target. Up for 5-year review this winter.

Harmony: Doing ok due to parent org subsidizing it, may be released from corrective action plan and then we'll see what happens.

Hope: Declining financial health, but not a total disaster. Enrollment low but stable. Occupancy is way too high. Twenty-year review this year and based on this and test scores I'm not optimistic.

Howard: Doing okay financially, although academic performance is concerning.

IDEA: Declining financial health, is on the financial monitoring list, 25-year review this winter. Had to write off half a million dollars due to federal grant expenses that weren't reimbursable, ouch.

KIPP: Some info about the employee fraud thing.

LAMB: "Improving financial health" by sorting out occupancy issues, but net assets are still decreasing. Enrollment is up.

LEARN: "Mixed financial health", complicated occupancy stuff, is on the monitoring list. 5-year review next winter.

Lee: "Mixed financial health". Low cash on hand, construction loan issues, on the monitoring list but expected to improve as the construction issues resolve and enrollment continues to grow.

Bethune: "Satisfactory" but enrollment is trending down. 20-year review this winter.

Paul: Most indicators look good but enrollment is down. 25-year review this winter.

Rocketship: Overall satisfactory but enrollment is down for several years in a row. Will be concerning if it continues much longer. 10-year review next winter.

Roots: Satisfactory but not as good as prior year. Enrollment declined but may stabilize this year.

SSMA: Doing better than last year, but enrollment decreases are concerning. "The LEA will need to further rightsize its operating expenses and implement an enrollment growth plan to maintain its strong liquidity and remain sustainable beyond FY 2025." So seems like sh*t's finally getting real. 15-year renewal hearing next winter. It also says the enrollment issue is mainly due to increased competition with other schools, which is interesting because there isn't a rationale offered for other schools with enrollment problems.

Social Justice: Doing okay on the official metrics, but had an enrollment decline and doesn't have a permanent facility. 5-year review this winter.

St. Coletta: "Declining", on the monitoring list, obviously a unique school and the city relies on it. Interesting to read about.

Thurgood Marshall: "Improving financial health", but enrollment is on a long-term decline.

Two Rivers: "Declining", enrollment has managed to stay strong but there are some occupancy cost issues and net assets are dropping. Overall not terrible but not great.

Yu Ying: "Satisfactory" but not as good as prior year, there's a discussion of their expansion financing.

[/quote]

With some of these schools I don't get how parents continue to send kids there. They will either wind up closed or in such dire situations with regards to facilities and resources that the experience of attending will be miserable.

It's just surprising to me given that the lottery offers people many opportunities to leave and go somewhere without these issues. Not talking about the schools that clearly have dedicated and supportive familly communities and are fundamentally succeeding as schools but have financial issues. Taling about the ones bad test scores, low enrollment, constant teacher retention issues, trouble securing permanent facilities, and a rotating door of administration. There are dozens of okay schools in DC that you can grab a spot in via the lottery between grades 1-5 without much trouble. Why does anyone stay at these schools?[/quote]

Oh there totally are reasons. Some people live off the metro and don't/can't drive so their options are limited that way.  Some people moved here after the lottery. Some people want language or Montessori enough to make major tradeoffs for it. Some kids are in a self-contained classroom placement and those are only offered at certain schools, it's a different process. And sometimes people don't plan to stay in DC anyway, so they don't want to disrupt their kid because they know they're leaving in a year anyway.

Some people had to take what they could get after Eagle collapsed. [/quote]

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