DC Public Charter School Board Cites Eagle Academy Public Charter School For Fiscal Management; Places It On a Financial Corrective Plan

Dr. Michelle Walker-Davis, Executive Director of the DC Public Charter School Board, said the following: “The DC Public Charter School Board has a number of important roles and responsibilities, one of the most significant of which is financial oversight.  That means that during each year, DC PCSB assesses the finances and operations of every public charter LEA to determine if they have sufficient financial strength for the year plus contingencies. If an LEA has engaged in a pattern of non-adherence to generally accepted accounting principles, has engaged in a pattern of fiscal mismanagement, or is no longer economically viable, we are required to close it per DC law.”

Lea Crusey, Board Chair of the DC Public Charter School Board, said the following: “We hope to see this resolved and hope to ensure that the families and students see a smooth transition into the next school year.”

The Board approved a Financial Corrective Action Plan—known as an FCAP—for Eagle Academy Public Charter School. Under an FCAP, the school would have to meet specific financial and other targets set to reflect the improvement necessary to ensure the school’s continued economic viability, strengthened internal controls, and more. The FCAP has five targets, which can be read about HERE.

Video for the meeting will be available HERE.