[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6571467,"mediaKeyId","3426163-67dc5defe59e41d21d9358c87b50375c","parentId",3426163,"title","SPCSA adopts FY24 financial ratings; removes notices for five schools, continues or issues notices for several others","audioSeconds",5928,"startMs",8844000,"endMs",14772000,"viewUrl","/Search/View?dp=1&key=3426163-67dc5defe59e41d21d9358c87b50375c&start=8844&end=14772","thumbnailUrl","https://assets.pipeline.soar.com/3426163-67dc5defe59e41d21d9358c87b50375c/thumbnail_8844000.jpg","articleUrl","/articles/6571467/Nevada/SPCSA-adopts-FY24-financial-ratings-removes-notices-for-five-schools-continues-or-issues-notices-for-several-others","mediaUrl","https://secure.pipeline.soar.com/6571467-e5bb4bfdc2f2df86615b9416e7c95e05/orig.mp4?Expires=1770924023&Signature=FTaSWEddbUognR4nxoYUspXE4SElOhip2OnweJVk07kpLtv0uwl7C-qD1-2Z3p69nN9P~nIzztNUf6lr2hxRynsBRJEKKk8mOH~PmdNXQg9OeMa1gUT3HmJUuzSFvxqgnGKaw3p3Ezwl8S9BwObl5p7nxRbTHWJHJIm8J4-ZuzyBdQ1gqlLn4t3rJHCZRPJQe3m64es~t3lUDiOKc9yoD4QD72HxKprEwO0IbMi-g7KKfThL~s4B~~EmSYx4wuLvJAb0Cp23-ru4ylPv27BmoqBYTJp541h9bxVrhHZdm6s1dSpnd22VmTmE~v4tDItuv-RMhTCvQeS0W95vOm3k~A__&Key-Pair-Id=KUT5TJCACFTXG","author","Nevada State Public Charter School Authority","date","2025-04-18T00:00:00Z","article","The Nevada State Public Charter School Authority on April 18 adopted its fiscal year 2023–24 Financial Performance Framework ratings and then acted on a slate of notices based on those audits and staff analysis.

Board staff told members the framework measures short- and long-term school finances — including current ratio, days cash on hand, total margin, debt-to-asset and debt/lease-coverage measures — using each charterholder’s audited fiscal year 2023–24 statements and follow-up documentation. Katie Broughton, SPCSA director of authorizing, told the board the authority used the audited statements as an objective basis for recommendations and then requested supplementary forecasts and explanations from schools with weak indicators.

After staff briefings, the board voted to remove financial “notice of concern” status from five charter holders that showed improvement in the audited year: Civica Nevada Career and Collegiate Academy, Democracy Prep Nevada, MATTER Academy of Nevada, Signature Preparatory, and SLAM Nevada. SPCSA staff said each of those schools improved key indicators such as debt-to-asset ratio, unrestricted days cash on hand or total margin.

At the same meeting the board continued or issued financial notices for multiple charter holders whose audited results remained troubling. Staff recommended and the board acted as follows: continue financial notices of concern for Battle Born Academy, Discovery Charter School, Akipo Academy, Pinecrest Academy of Northern Nevada and continue other existing oversight measures where staff documented improvement but remaining risk; continue the financial notice of breach for Explore Academy (which had earlier been on a breach); and issue a financial notice of breach to PilotED Cactus Park Elementary (see separate article on the acquisition below). The board also voted to issue notices of concern to Southern Nevada Trades High School and Young Women’s Leadership Academy.

The board took two further procedural steps on two high-profile items: it postponed action on Sage Collegiate (recommended for a notice of breach by staff) and on Nevada Prep (recommended for a notice of breach by staff) to the May 30 board meeting in order to allow each school to bring key financial stakeholders and documentation requested by staff (bond/financing terms, updated budgets tied to verified enrollment, documentation of federal grant receipts and PERS plans). SPCSA General Counsel Samantha King Powell read a motion directing staff and each school to provide the requested materials before the May meeting.

Why it matters: the Financial Performance Framework drives SPCSA monitoring and intervention. Notices of concern and breach are formal steps that can limit a school’s access to financing or change the level of monitoring; staff said they rely primarily on audited fiscal statements because of the legal weight of that independent review.

Votes at a glance
- Adopt FY24 Financial Performance Framework ratings: motion carried (voice votes).
- Remove financial notice of concern and return to financial good standing: Civica Nevada Career and Collegiate Academy (motion by Member Salcedo; carried), Democracy Prep Nevada (motion moved and carried), MATTER Academy of Nevada (motion carried), Signature Preparatory (motion carried), SLAM Nevada (motion carried).
- Continue financial notice of concern: Battle Born Academy (motion carried); Discovery Charter School (motion carried); Akipo Academy (motion carried); Pinecrest Academy of Northern Nevada (motion carried).
- Continue financial notice of breach: Explore Academy (motion carried).
- Issue financial notice of breach: PilotED Cactus Park Elementary (motion carried). Note: the board approved an acquisition of PilotED Cactus Park by MATTER earlier in the meeting; staff said the fiscal-year-24 audit data nonetheless support a breach notice for the PCSD entity that remains on the books through June 30.
- Issue financial notice of concern: Southern Nevada Trades High School (motion carried); Young Women’s Leadership Academy (motion carried).
- Postponed to May 30 at request of board (to allow schools to present bond/financing and updated budgets): Sage Collegiate (staff recommended breach; postponed); Nevada Prep Charter School (staff recommended breach; postponed).

What staff asked schools to supply: audited financial statements are the baseline; for contested cases staff requested a 3- to 5-year financial forecast, an FY26 budget tied to demonstrable enrollment, documentation of federal grant receipts, PERS repayment plans (if relevant), and where applicable the proposed bond/loan term sheets and contingencies. Staff said it will circulate in writing the precise list of materials requested to each school named in the motions.

Board members asked staff to make clear to schools that timeline, conservative enrollment assumptions and legally binding loan/pledge documentation would be required to alter a staff recommendation.

Bottom line: the SPCSA used the FY24 audits to update the portfolio picture, removed notices for several schools that improved, and signaled closer monitoring or formal breach notices for schools where long-term liabilities or zero days cash on hand made the near-term financial outlook precarious. Several schools were given a month to return with firm financing documents before the board’s May meeting.","mediaType","Video","parentTitle","SPCSA Board Meeting - April 18, 2025","oneSentenceSummary","The Nevada State Public Charter School Authority adopted its fiscal-year-2024 financial ratings and moved to remove notices for five schools while continuing or issuing notices for others; the board postponed two high-profile cases to May 30 for additional documentation.","taxTitle","STATE-SPONSORED CHARTER SCHOOLS, School Districts, Nevada","taxId",78400,"location","Nevada","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6571457,"Board approves MATTER Academy acquisition of PilotED Cactus Park; staff still recommends breach for PilotED entity",223,7889000,8112000,"/Search/View?dp=1&key=3426163-67dc5defe59e41d21d9358c87b50375c&start=7889&end=8112","https://assets.pipeline.soar.com/3426163-67dc5defe59e41d21d9358c87b50375c/thumbnail_7889000.jpg","/articles/6571457/Nevada/Board-approves-MATTER-Academy-acquisition-of-PilotED-Cactus-Park-staff-still-recommends-breach-for-PilotED-entity","https://secure.pipeline.soar.com/6571457-ec3db0f6c90cf3ecc88e30e2816900f4/orig.mp4?Expires=1770924024&Signature=a9S7m-5AquLEQD0qDtwTIM6BmfwwmSuhLQdDpPRgia1dUYRdbS8~5zTrHWb8NCAXRK1o~IwQ7U6Wdbuw3D8GHmgDpP4wwY97O7M8uJMxpV8S23s1Ys8v3vkJEf9fb5Lz3hz3ww-c6NAVP7x26FWWLlPly3OUFndd54YpnWYB6xPjvc8xdkvUs1ErI0iHiPVLrg1f9yFm9rZ1BdY0qYJPYc4OAmTZ4VhRfbMs8acpJu7K2dp2f-0QveT7ZC7czCdA3WWkZr1-QZVJeiivpEWaHi~4Jb6lRdritMqQLJILWXIRpUgklODf4RLlvMeDzekmEXV6tX9~gQ6gKidLQncNNA__&Key-Pair-Id=KUT5TJCACFTXG","The SPCSA board voted to authorize an acquisition agreement for PilotED Cactus Park Elementary to be absorbed by MATTER Academy. SPCSA staff summarized the transition plan: if completed, the existing PilotED governing board would dissolve and Cactus Park would operate under MATTER Academy’s charter starting July 1, 2025. Staff described MATTER as an established network with operational capacity to take on Cactus Park’s school operations and curriculum.

MATTER representatives in the room said they intend to use MATTER instructional coaches and leaders to support classroom implementation and would make leadership and personnel adjustments as needed; MATTER also said it expects to redeploy staff from existing MATTER campuses to mentor and lead the transition. Board member dialogue focused on ensuring continuity for students during the transition and on how MATTER plans to integrate Cactus Park staff into its operational model.

Separately, SPCSA staff recommended, and the board subsequently approved, issuance of a financial notice of breach to the PilotED Cactus Park charter holder based on fiscal year 2023–24 audited financials. Staff told the board the PilotED entity ended FY24 with a negative end fund balance, had increased total debt after borrowing from a factoring arrangement, and used a short-term cash facility that materially worsened leverage. Staff said the notice is based on the FY24 audit; MATTER’s acquisition and any resulting governance changes would take effect by June 30/July 1, but the audit data for FY24 remain the factual basis for a breach notice of the PilotED entity that still exists on paper through the end of the fiscal year.

Why it matters: The acquisition avoids a school closure scenario in which students would need new placements, while the simultaneous breach notice records the PilotED entity’s FY24 financial weaknesses for the record. SPCSA staff said the notice will not prevent MATTER from completing an acquisition but is required by the authority’s framework given the audited findings.

Speakers quoted: Renee Fairless (MATTER), Carly Castell (PilotED/Cactus Park leadership), Melissa Makadan (SPCSA Executive Director) and Samantha King Powell (general counsel) were among speakers on the item.","The SPCSA approved the acquisition of PilotED Cactus Park Elementary by the MATTER Academy network and authorized staff to finalize terms, even as staff recommended a financial notice of breach for the PilotED entity based on the FY24 audit.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6571462,"SPCSA approves grade‑span amendments for two new charters with conditions",560,2253000,2813000,"/Search/View?dp=1&key=3426163-67dc5defe59e41d21d9358c87b50375c&start=2253&end=2813","https://assets.pipeline.soar.com/3426163-67dc5defe59e41d21d9358c87b50375c/thumbnail_2253000.jpg","/articles/6571462/Nevada/SPCSA-approves-gradespan-amendments-for-two-new-charters-with-conditions","https://secure.pipeline.soar.com/6571462-a3a247e5a55ae763f09c359046497715/orig.mp4?Expires=1770924024&Signature=njXmQarlSYBqKQm5v4ccVl4XrTaoffc-lnaxf1fU~-c8ONlMCIpJgxMQrsgfuWUE7Jc9NeeFBEYEQznfIYw7nOcIqZ-PWI6631ciGrQzpu1CL1sYRlM-e5Ik1-W0Jg6dFY6qK65To1BgzTWf~~KgLgDjFukCiKxlb8oUus05GCmZp-alZiMrCIsRxcWkW9PqA5GQt~aPxRLLKfjuKEhRmh7YQ1R0GlnIdQjAdjnthP8sRmjYdpnA8xL~gZx5HqWzlPhacXQuq~0tSZQgOfY6H~WB1eGgB45fX63-6iY6X-CWqHzbqSCAmWrWeT-xccn05g9adMgf60xoOlt6uAg01g__&Key-Pair-Id=KUT5TJCACFTXG","The SPCSA approved two separate amendment requests from schools in incubation to modify their initial grade spans and open with additional grades in year one, citing the schools’ deferred openings and community demand.

Doo and Bee Arts Academy of Excellence (DBAE). Staff explained DBAE had deferred its opening to the 2025–26 school year. DBAE requested to add third and seventh grades in its first year so families who had expected seats after the earlier deferral would not be forced elsewhere. SPCSA staff recommended approval with conditions. The board approved a “good cause” exemption conditioned on DBAE providing by June 1, 2025: evidence of 60 or more fully enrolled students for 2025–26, a fully executed lease for a facility that meets school needs, and a board‑approved final budget by June 8 showing revenue tied to confirmed enrollment and facility costs; the school must also complete the SPCSA preopening process.

Rooted School Las Vegas. Rooted requested to add 11th grade in year one (original approval had been grades 9–10 for the first year, 9–11 in year two). Staff said Rooted delayed opening into 2025–26 and that the added grade would help the school meet year‑one enrollment targets; staff also cautioned about aggressive hiring timelines and urged close monitoring through the preopening process. The board approved Rooted’s good‑cause exemption with conditions: by June 1, 2025, Rooted must present evidence of 90 or more fully enrolled students for 2025–26; a fully executed lease for a facility in a designated set of ZIP codes; and by June 8 a board‑approved final budget tied to confirmed enrollment and facility costs; the school must also complete the SPCSA preopening checklist.

Why it matters: both actions reflect SPCSA’s practice of balancing community demand and verified enrollment against fiscal and operational readiness. Each approval contained strict enrollment, lease and budget conditions intended to reduce the financial risk of an opening year.

Speakers quoted in the record included SPCSA staff (Danny Peltier, Melissa Makadan) and school representatives (Shambrion Treadwell, Jonathan Johnson) who gave enrollment and facilities updates during the preopening process.","The authority granted good-cause exemptions allowing two new charter schools — Du and B Arts Academy of Excellence and Rooted School Las Vegas — to add grades in their opening year, subject to enrollment, executed leases and final budgets.","actionData","errors"]

Article not found

SPCSA adopts FY24 financial ratings; removes notices for five schools, continues or issues notices for several others

Board approves MATTER Academy acquisition of PilotED Cactus Park; staff still recommends breach for PilotED entity

SPCSA approves grade‑span amendments for two new charters with conditions