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Board sets aside up to $1.31 million from startup funds to bridge Wallace Stegner Academy cash-flow gap
Summary
The State Charter School Board approved a one-time set-aside of up to $1,312,081 from startup/implementation grant funds to bridge Wallace Stegner Academy’s early-year cash-flow shortfall; the funds are described as a short-term, verifiable bridge returned at the midyear true-up.
The Utah State Charter School Board voted unanimously June 13 to set aside up to $1,312,081 from its startup and implementation grant funds to temporarily bridge a cash-flow shortfall at Wallace Stegner Academy.
Staff explained the problem as a delta between the Common Data Committee (CDC) early funding counts and projected actual student enrollment at the start of the school year. Because state allotments are based on earlier historical…
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