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District identifies Suncoast School For Innovative Studies for expedited financial review after auditor flags deteriorating condition
Summary
The district reported that Suncoast School For Innovative Studies ended FY2024 with a deficit fund balance and a deteriorating financial condition; the district required an expedited corrective-action plan and will monitor progress under statutory timelines that allow nonrenewal if terms are unmet.
Sarasota County School District financial staff reported Jan. 7 that the auditor for Suncoast School For Innovative Studies (SSIS) identified a deteriorating financial condition for the charter in the fiscal year ending June 30, 2024, triggering an expedited district review and the requirement for a corrective-action plan.
CFO Rachel Pinner told the school board SSIS reported a deficit fund balance of just under $70,000 in its fund financials and a net position deficit of about $224,000 on…
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