Board’s Thursday meeting will focus on school’s prospects
The School Board is seeking public comment Thursday on whether Klamath River Early College of the Redwoods should remain open despite showing a projected loss of $192,000 at the end of the current fiscal year.
KRECR’s projected ending fund balance for the 2012–13 fiscal year is $241,846, according to a PowerPoint presentation KRECR representatives will present at the meeting.
At its May 21 meeting, the School Board authorized Superintendent Don Olson to send KRECR a letter notifying representatives of its intention to revoke the school’s charter. The Board’s decision came after KRECR Director Bernadette Johnson informed it that the projected deficit for the 2012–13 fiscal year had grown to $257,000.
KRECR has struggled to raise funds since December when, due to a budgeting error, school representatives projected a negative balance of $168,000 at the end of the 2012–13 school year. Since then, KRECR has hired EdTec, a business and development firm for charter schools, to do its bookkeeping.
Thursday’s public hearing will give KRECR representatives, including students and parents, a chance to plead the school’s case before the Board, according to Olson. Thirty days following the hearing, the County Office of Education will notify KRECR of the Board’s decision in writing.
KRECR’s original deficit of $168,000 was created largely because the school mistakenly used restricted scholarship funds to close a deficit in its unrestricted fund balance. The school has also been battling cash flow issues due to receiving state funds based on old enrollment numbers rather than the higher number for the 2012-13 school year, Johnson said in December. However, according to KRECR’s financial presentation, May’s ending cash balance was positive and representatives are certain that June’s cash balance will be positive as well.
Since December, KRECR has closed its Klamath campus, laid off staff members and cut its employee salary by 5 percent. The KRECR Board also voted in February to discontinue health care benefits for its employees for the rest of the current school year.
The County Board of Education, which also serves as the Del Norte County Unified School District Board of Trustees, meets at 4:30 p.m. Thursday inside the Curriculum and Instruction Center at 301 W. Washington Blvd. Agendas are available at www.delnorte.k12.ca.us.