Ark. Ed. Board will not renew charter of LR school

LITTLE ROCK, Ark. (AP) - The Arkansas Education Board has voted to not renew the charter of Dreamland Academy in Little Rock and to put Covenant Keepers College Preparatory Charter School on probation for a year.

The board said Monday that an audit found that Dreamland Academy could not substantiate that its programs were helping the high-risk students enrolled there.

The school's charter ends this month.

The school had 144 students this year in kindergarten through fifth grade.

Covenant Keepers had financial troubles and its director made an interest-bearing loan to cover rent payments - a violation of state law.

The school has since cleared up its finances but the matter was referred to state auditors and could be referred for prosecution.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)