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[quote=Anonymous]Report: Fewer D.C. charter schools have financial problems

By Emma Brown, Published: July 24
District charter schools had fewer financial problems in fiscal 2012 compared to the year before, according to a report released Wednesday by two city agencies and the D.C. Public Charter School Board.

The study, based on an examination of schools’ annual financial audits, is meant to help identify and address fiscal weaknesses before they mushroom into problems that force a school to shut its doors.

It flagged three charters for poor fiscal performance during the year ending June 30, 2012, down from 13 the year before.

D.C. Bilingual, a Columbia Heights elementary school, had an operating deficit of more than $600,000, raising questions about its long-term viability, according to the charter board.

Myrna Peralta — president of CentroNia, the organization that operates D.C. Bilingual — said she is confident of the school’s continued viability. But she acknowledged that the operating deficit, driven in part by the expense of serving a growing number of high-needs special education students, is a problem.

The school has reduced staffing costs by employing fewer adults in each classroom, she said, and is looking for ways to reduce the cost of special-education services without sacrificing quality.

“Our financials will be much better” in fiscal 2013, she said, estimating that the school will reduce its operating deficit by more than half. Scott Pearson, executive director of the charter board, agreed that the school’s financial position has improved enough in recent months to allay the board’s concerns.[/quote]

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