Arizona charter schools show financial warning signs
PHOENIX (AP) — More than 100 Arizona charter schools showed financial warning signs last year with dozens at possible risk of closing, according to a newspaper's analysis of charter school finances across the state.
Operators representing 138 of the state's 538 charter schools failed three of four measures reported in financial performance dashboards for the 2016-17 school year, The Arizona Republic reported .
Charter holders of 62 schools failed all four measures. The charter holders of 41 schools were flagged by their auditors over concerns that closure was possible within a year.
The operators of charter schools, which receive state funding per student, are required to submit financial audits to the state charter board each year.