Charter School Financial Problems Are Rampant

Financial mismanagement has left one out of every eight Charter Schools in the state running a deficit. In Pinellas four of the twenty two charter schools are, including Newpoint Pinellas High. 
TampaBay Times     
This is the direct link to the report from the state Auditor General Report 2015-192

This a great article detailing the collapse of Acclaim Schools. It really shows the shaky footing and shady financial maneuvering many of these companies are guilty of. It's not uncommon for many Charter School companies to have a string of failed schools behind them as they are trying to open more. What they leave in their wake are devastated students, teachers who aren't getting paid, and counties left to pick up the pieces. Jacksonville.com



It's particularly fascinating to me how these companies all work together, often in multiple states, and yet they have far more failures then they do successes. Despite that though they keep plowing ahead, which really indicates the money to be made by these companies, even when they fail. 
In North Carolina Newpoint is trying to work with Ignite to open new schools, when both are dealing with heavy failure numbers in this state. 
Why not get your act together, and focus on getting the schools you have opened already into a position to keep the promises they made to the kids? ncpolicywatch.com

Then there is this gem. Is this how they try and keep the schools afloat? More mismanagement? 
http://www.pnj.com/story/news/education/2015/06/22/property-school-districts-found-newpoint/29134325/

I frankly do not have a problem  with school choice, nor do I with charter schools per se. What does concern me though, is the commonality of similar problems throughout multiple states, and the almost incestuous relationships between the various companies, and individuals. 
Further, I believe their needs to be much more stringent oversight, and accountability as to who is opening, running, and managing these schools, whether they are living up to the promises made, and an exact accountability of the tax money spent. 
If a "for profit" company managing a school, lending it money, or leasing the school property, is comprised of the same individuals as members of the "non profit" opening th eschool, then clearly something is not right.
The lease alone for windsor Prep will be $7million+ over the next 5years. While I am not saying there is anything untoward in that business arrangement, you have to admit that is A LOT of your tax dollars.
Another point to make is are they keeping the promises they made. Read what Windsor Prep has posted on their website, and compare that to the statements made by the former principal Jessica Clements to the Pinellas County School Board. Read the school's "Improvement Plan". It basically states they're eschewing their curriculum for the Pinellas County Public School System's.  That means if they manage to pull their grade out of the gutter it will thanks to Pinellas County. ROFL.