|Updated: 4/10/2006 7:49 pm
||Published: 4/10/2006 7:46 pm
LITTLE ROCK (AP) - The fate of the Academics Plus Charter School in Maumelle now lies with the state Board of Education, which expects to decide next month whether to shut down the cash-strapped school.
At a state board meeting Monday, school superintendent and president Patty Acre told board members that the school has enough money to pay its April bills, but will only have 5,000 remaining afterward. Acre estimated that it costs about 125,000 monthly to operate the school.
We've held on for another year ... but the money has run out, Acre said.
The board on Monday gave notice of potential action regarding the school's charter. It will take up the issue at its May 8 meeting.
The board has threatened to revoke the school's charter if its finances do not improve. Parents have raised 160,000 so far for the school.
A walk-a-thon on Friday raised 13,000, and parents hope to come up with enough money to keep the school open, said parent Brenda Tapley. But she urged the board not to give notice of a hearing on the school's charter because it would hamper fundraising efforts.
I think that might be the kiss of death, she said.
The school has fallen into debt as its enrollment dropped drastically throughout the year. Last April, the school estimated that it would have 317 students - which amounted to a monthly payment from the state of more than 142,000. But by November, the enrollment had dropped to 212 students, which reduced the school's monthly payment to 79,000.