L.A. Unified moves to close charter school over alleged misuse of $2.7 million

[Hannah Bell]

An audit finds that the founding principal at NEW Academy Canoga Park allegedly misused or misappropriated money, depositing funds into an Ameritrade account and claiming payments to a nonexistent company.

Los Angeles schools Supt. Ramon C. Cortines has moved to shut down a San Fernando Valley charter school over the alleged theft or misuse of as much as $2.7 million by the school's founding principal.

The problems at NEW Academy Canoga Park turned up in an audit released Monday by the inspector general's office of the Los Angeles Unified School District.

As a charter school, NEW Academy is governed by its own board of directors, independent of L.A. Unified, which authorized the school...Virtually no local charter schools have been forcibly shut down by the district...The elementary school of about 500 students faces a charter revocation hearing. The chairwoman of the school's board contends that NEW Academy should survive because students are thriving.

http://www.latimes.com/news/local/la-me-charter-20100831,0,3493919.story


Um, how does one school steal nearly 3 million dollars?


And who's signing off on their financials?

This is rich: "Although the school's scores are still in the lowest 30% of schools statewide, according to last year's data, its students' gains on standardized tests have been among the region's strongest each of the last three years"

BFD.

[salin]

1. No brainer... close it down.

his excuse for some of the missing money while the embezzlement was happening was that some deposits got misplaced and lost... and no board member suspected anything?

And ...this is rich (pun intended) The school's visible face, Fiszer, the author of three education and motivational books, was once honored as a "Champion of Children" in a City Hall ceremony.

close it down!

[Hannah Bell]

2. kik for the wonderful education reform our leaders are bringing us: cash for crooks,

a new government stimulus program.

& undos for unions.

[Hannah Bell]

3. kik for 2.7 million divided by 500 students: how does a school steal that much?

BECAUSE CHARTERS HAVE NO OVERSIGHT TO ENABLE IT, THAT'S WHY.

[Hannah Bell]

4. school deform = cash for crooks