The Heritage Charter Academy of Cape Coral, Florida plugs itself as a "free public charter school," but that turns out to be not entirely true.
As reported earlier this week, the charter schools of Cape Coral are in deep financial trouble. The charters run by Oasis Charter Schools can't afford their lease. So they are facing some serious deficit spending issues, as described by a city official:“If everything stays the way it is today right now … their fund balance would actually be depleted by 2024,” Assistant City Manager Connie Barron said.
“We only receive $1.5 million,” [Oasis Superintendent Jacqueline] Collins explained. “Our lease is $3.2 million every year, so to pay that that, we had to take from our [Florida Education Finance Program] funding, which really is designated for students and instruction.”
Cape Coral City Council is on record wanting to help the city’s four charter schools by allocating $2 million a year starting in fiscal year 2022 and reducing the lease to $1.5 million a year. But nothing has been approved yet.