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Resource ID: #21774
Source:Sentinel (Orlando, Fla.)
Using audit records, reporters at the Orlando Sentinel discovered charter schools struggling with management fees and overhead costs. The schools, which are operated by one of the largest school-management companies, Imagine Schools Inc., ended up spending fifty percent less on instruction per student than any of the neighboring public schools. In general, the charter schools "were posting a lower percentage of A's and B's on the annual school grades than the Osceola and Lake districts." While the state recommends that districts keep a positive balance of 2-7 percent to cover emergency expenses, charter schools have no rule of thumb to go by and are millions of dollars in the red.