A fiscal audit of two Los Angeles charter schools for fiscal mismanagement has led to concerns about the two charter schools’ parent organization. The audit led to the closing of Magnolia Science Academy-6 and Magnolia Science Academy-7 for reasons, according to L.A. Unified district, that included “a number of irregularities.” However, the audit also apparently revealed that the charters’ parent, Magnolia Public Schools, may itself be insolvent, according to Non-Profit Quarterly.
The news about the two Magnolia schools in Los Angeles has been noticed by other localities that host Magnolia charters. The Santa Clara County Office of Education last year renewed a charter petition for a Magnolia school outside of Cupertino, but is now concerned. “We will pay attention to this—we wouldn’t want to find out that our [Magnolia charter] school would have to close because other [Magnolia] schools are in trouble,” said Don Bolce, Santa Clara’s director of special projects. “We recognize that with a charter school that is part of a charter management organization, a problem at one school could impact other schools – if there is a problem, it endangers the system.” Continue reading