The Reach Academy Charter School is in the midst of a budget crisis so bad that there may not be enough money to pay its teachers, according to Delaware Online.
The school’s board of directors is waiting on the results of an accountant’s report to verify the financial situation. As of Monday night, the report was not complete.
Faculty members at the school were told that there wouldn’t be enough money to pay teachers for this year’s contract if the state decided to close the school.
Last year, the State Department of Education discovered operational and financial problems during a review of the school.
Because of this, Reach is now undergoing a process for troubled charter schools that may lead to closure, according to Delaware Online.
The State Department of Finance claims that the school had a total of $267,199.80 as of Monday.
With the incomplete accounting report, its unclear how much of that money can be used to pay school staff.
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Delaware Online reports that the board plans to cover the shortfall with money for teacher salaries for the next school year.
The board reportedly told teachers to solicit parents and politicians to advocate on their behalf to keep the school open.
Normally teachers can opt to have their pay for the school year spread over 12-months, which allows them to receive money over the summer while school is out.
The school’s finance issues could prevent them from receiving summer payment however, which means a loss of $6,000 to $8,000 for some teachers, according to Delaware Online.
In spite of the threat of school closure and payment loss, the teachers still remain in school.
Delaware Online says that board members may replace themselves in order to try and halt the review from the State Department. Its unclear at this time however if that would be enough to stop it.
The school board will meet Tuesday night to further discuss the issue.
