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Committee accepts charter-school audits but asks Auditor General and attorney for guidance on $28M parent‑account transfers
Summary
ABAC accepted audited financial statements for 56 charter schools while members pressed for clarity about approximately $28 million transferred from school accounts to parent entities for investment; the committee asked the district auditor to request an opinion from the Florida Auditor General and asked the school board attorney to provide statutory guidance.
The Audit and Budget Committee approved the transmittal of audited financial statements for 56 charter schools but directed follow‑up after committee members raised concerns about roughly $28 million of charter‑school funds that auditors said had been transferred to parent‑company accounts for future investment.
Mike Hernandez, CPA, presented the charter‑school reviews and said 55 of the 56 audited schools had no significant fiscal issues. "Forty‑four of these schools made transfers of approximately $28,000,000 in the aggregate to their respective parent companies," Hernandez said, and auditors…
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