A charter school in eastern North Carolina has agreed to repay more than $150,000 in federal grant money.
State officials say Children’s Village Academy in Kinston must settle that tab by May eighth, using money that comes from Lenoir County to support the 141 students enrolled there.
The Office of Charter Schools has recommended closing Children’s Village at the end of this school year. They say the school has an array of academic, financial and regulatory problems, is running a deficit and is losing students.
Steve Gay was one of several Charter Schools Review Board members who questioned Monday whether there’s any way for the school to survive.
“They have a low fund balance. They have no money in the bank. They have $152,000 they have to pay and they can’t use federal funds for that," he said, "When they pay that, my question is going to be where does that money come from? Because they can’t take out another loan.”
But the review board decided to wait another month to vote on whether to cut off Children’s Academy’s funding at the end of this school year.