PAGEDALE — The first charter school in ºüÀêÊÓƵ County is considered financially stressed by the state education department just one year after opening.
The Leadership School, which opened in 2022 in the footprint of the Normandy Schools Collaborative, ended the fiscal year in June with a fund balance of 2.3%, below the minimum 3% required by state law. The balance equaled 16 days of cash on hand.
The Missouri Department of Elementary and Secondary Education in October will include the school on a list of financially stressed school districts and charter schools. The distinction comes with increased financial monitoring from the state and the school’s sponsor, the Missouri Charter Public School Commission.
The commission issued a letter of concern on Aug. 17 regarding the fund balance, stating that failure to improve the school’s finances could result in probation.
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The last school district placed on the state’s financially stressed list was Malta Bend in 2020. The 70-student district is in Saline County. DeLaSalle in Kansas City was the last charter school to make the list, in 2018.
The Leadership School’s budget anticipates a fund balance of 11% for the fiscal year ending in June 2024. The budget is based on an enrollment of 144 students in kindergarten through third grade, down from original projections of 286 students.