It’s not unusual for schools to cover expenses with fund transfers or nonpayable warrants, particularly when they expect funds through a property tax payment or reimbursement from the federal government, said Shawn Hime, executive director of the Oklahoma State School Boards Association. The school also had shifted money from activity funds to cover general expenses several times, records show.
The Academy of Seminole received $600,000 in federal start-up money and $325,000 from the Walton Family Foundation, according to a story in The Hechinger Report. Like a typical charter school proposal, the plan was to marry public and private funds to operate the school. The Academy of Seminole just finished its third school year and celebrated its first graduating class 17 received diplomas, and more than half have earned or are on track to complete their associates degree this year, school superintendent Wren Hawthorn said.īut the school’s financial picture has not lived up to expectations set in 2017 when it became the first charter school sponsored by the state Board of Education after its proposal was twice rejected by the Seminole Public Schools board. In tapping Campbell, Epic is drawing on his experience in Seminole. “It’s a big day for Epic Charter Schools and a big shift in our strategy,” Campbell said, noting that the change will save the school tens of millions of dollars and improve its technology. The school agreed to pay the company for remaining learning fund orders minus about $10.9 million in penalties the school owes the state Department of Education. In a termination agreement, Epic Youth Services agreed to hand over control of the school by June 30 - including the learning fund, a separate account used to pay for extracurricular activities and educational items chosen by each family. Whoops! There was an error and we couldn't process your subscription. Its Start Has Been Rocky - Oklahoma Watch Close Epic's New Board Chair Founded a Charter School.
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