Las Vegas charter school’s finances under scrutiny amid mounting debts
LAS VEGAS (KLAS) — A Las Vegas charter school is facing criticism for its mismanagement of funds.
Nevada Prep Charter School was the focus of a meeting from the State Public Charter School Authority (SPCSA) Friday on whether they could remain in operation.
The embattled school, located near Nellis and Lake Mead boulevards, serves 3rd through 8th graders on the east side of the valley.
Its finances and management are at the crosshairs of SPCSA.
“There are strings attached to the millions of dollars charter schools are given, and when schools are negligent on their reporting, it is a much bigger issue than just creating extra work for the SPCSA staff,” SPCSA Executive Director Melissa Mackedon said.
Documents from SPCSA show Nevada Prep is one of two schools in the state that “Does Not Meet Standard,” a classification that means it failed to meet minimal expectations and its status for renewal is in question.
“We are all aware that not all of our state leaders are supportive of our work, and when they see that our schools are not compliant, it hurts our agenda going forward,” Mackedon said.
Mackedon discussed Nevada Prep’s plan to pay its debts.
“Of note, Nevada Prep has submitted a repayment [plan] that has been approved by the PERS board,” she said.
That repayment plan is to cut down on the $512,000 the school owes to the state’s teacher pension fund.
A plan submitted to SPCSA shows Nevada Prep laid off five of its staff and eliminated housekeeping, landscaping, and pest control services.
According to its most recently available fax filing, Nevada Prep reported a loss of $932,375 ending in the fiscal year of June 30, 2022.
In a note sent to the SPSCA. the school’s executive director John Haynal said, “We are hoping this email will help support not [punish] the future for the mistakes of the past.”
The state charter school authority tabled a decision on approving a framework for Nevada Prep until its March meeting.
Nevada Prep agreed to pay $21,500 a month for the next two years to PERS to settle its debt.
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