Mishandled finances not uncommon in charter schools
Spend first, ask permission later, and don’t bother with receipts.
The loose financial systems at some of Ohio’s charter schools have led to questionable spending in recent years. Some schools hired treasurers with spotty track records; others hired qualified treasurers but disregarded their advice when they insisted on better checks and balances.
The recent case of a charter-school treasurer who misspent more than $600,000 in public money over a decade at several schools has highlighted how common fiscal missteps have been in charters. Fifteen of the 20 entities with the most charges of misspending by the state auditor are charter schools.
And the misspending wasn’t all at the hands of Carl W. Shye Jr., the treasurer from New Albany who lost his school treasurer’s license last