LAUSD Moves to Close Charter School After Alleged Misuse of $2.7 Million

"$2 million of misappropriated and unaccounted public funds is egregious"

The Los Angeles Unified School District is moving to close a charter school after allegations that the former principal stole or misused up to $2.7 million.

Superintendent Ramon Cortines said Monday a recent audit found that the former principal of NEW Academy Canoga Park Elementary School lost or misappropriated $1.7 million and spent $1 million in questionable costs.

The audit also found more than $1 million was deposited into the former principal's personal investment account.

"$2 million of misappropriated and unaccounted public funds is egregious," Cortines wrote in a letter to the board of the school quoted in the LA Times. "Students have been inexcusably deprived of funds that were designated solely to further their education."

A public hearing will be held to ask the school board to issue a notice of violations and begin the process of revoking the school's charter.

No charges have been filed.
 
The elementary school has about 500 students. It's run by its own board of directors under a charter with the school district.

The school now risks losing its charter, but its board chairwoman, Maggie Cervantes, says it's doing good work and should stay open.
 
Cervantes says the school has been a victim of fraud, has fired the principal and is trying to recover the money.

Copyright AP - Associated Press
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