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SBOE and TEA press Fort Worth STEAM Academy on finances, fundraising and board capacity
Summary
State Board of Education members and TEA finance staff questioned the applicant on fundraising commitments, contingency budgeting and board experience after noting charter closures in the area; applicants reported $296,000 secured and final rounds for $450,000 in grants but said the grants were not yet committed.
During the Texas Education Agency capacity interview, State Board of Education members and TEA finance staff focused on financial sustainability, fundraising commitments and board capacity after noting two recent charter closures in the Fort Worth area.
TEA asked whether the startup and annual budgets relied on firm local contributions. Eric Wilson, the proposed treasurer, said the team had budgeted $271,000 in local contributions for the startup year and had secured $296,000 to date; he also said the applicants were in final…
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