No profit limits at Indiana takeover schools
Published 10:32 a.m., Monday, August 6, 2012
INDIANAPOLIS (AP) — A company hired by the state to take over three Indianapolis public schools says it could lose money in the deal in the first two years even though its contracts don't set minimums for classroom spending.
Similar contracts cover private operators now running a Gary high school and another Indianapolis school in the first state takeovers of schools that struggled for years with low student test scores, The Indianapolis Star reported Monday (http://indy.st/RqX2Sm ).
The state contracts pay each of the operators a set amount per pupil, which will come to more than $30 million a year for the five schools.
Florida-based Charter Schools USA has faced higher-than-expected startup costs and lower enrollment at the Indianapolis schools it is taking over — Howe and Manual high
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