November 22, 2021 7:32 pm

Charter schools to create $3 million ‘fail’ fund

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When the news broke in December 2019 that the American International School of Utah was under investigation for misappropriating nearly half a million dollars in state and federal education funds, it left a black eye on charter schools that hasn’t entirely healed.

Recently, advocates for charter schools came up with a kind of fix: a “Charter School Closure Reserve Account,” like an emergency rainy-day fund that would ensure that if a charter school closes with outstanding debts, they could be resolved right away.

How much reserve would be enough? They decided on a figure: $3 million.

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