Oasis Middle School outlines survival plan as board weighs next steps on long-running financial deficit

Oasis Middle School presented a detailed financial turnaround update to the Manatee County School Board on April 14, 2026, as district staff, the school's founder and board members examined a multi-year deficit and what would be required to sustain the charter.

Founder and director Edna Fields Bailey said the school had been carrying a conventional mortgage on its building and that the loan was sold late in 2025 to an investor that did not negotiate with small charter schools. Bailey said a local businessman, Alan Bazzi, subsequently purchased the property and arranged an LLC lease-back, allowing Oasis to continue operating while removing the immediate mortgage burden. "We were very grateful that... he stepped up to help in the situation," Bailey told the board.

Bailey described cost-cutting measures already taken, including the elimination of several teaching-assistant positions and a redistribution of duties across remaining staff to preserve classroom instruction. She said the school is targeting at least 60 students in the coming year to create a financial cushion; current enrollment was reported as about 45 students in grades 6-8. Bailey said supporters and family members have pledged contributions and that a capital campaign is being developed; she and the board estimated roughly $100,000 in outside commitments could be available before fiscal year closeout but warned a material shortfall might remain.

Sponsor staff explained the monitoring process: Oasis was placed under financial corrective action after three consecutive months of a negative general fund balance; the sponsor notified the Florida Department of Education and reviewed corrective plans and late audits. District staff said Oasis's general fund showed a net operating deficit (about $232,000 in the general fund as presented) while capital accounts remained positive. District counsel and the sponsor emphasized that statutory enforcement (including renewal or termination) becomes more likely if academic performance falls to D/F levels combined with continuing financial deficits. As the sponsor noted, statute 1002.33 and the district's contract set the accountability framework.

Board members were split on an immediate enforcement step. Several members urged giving the school more time because Oasis continues to produce strong academic results (an A school grade in the most recent official accountability cycle) and because the district and community may be able to marshal philanthropic support; others said they needed documented commitments and a firm plan to reach a positive general-fund balance by the start of the next school year. The board did not take formal enforcement action at the workshop; instead staff and Oasis agreed to return with completed audit closeouts and PM3 assessment results, after which the board will reconsider sponsor options.

What to watch: The district will receive the audited fiscal-year closeout and PM3 academic data in May/June. If Oasis shows a sustained operating surplus and meets accountability standards, the district could continue sponsorship while monitoring follow-up milestones. If financial deficits persist and academic outcomes decline, the sponsor may move to stronger contractual remedies under Florida law.

Representative quotes: Bailey: "The mortgage was sold... and the property sold to Mr. Alan Bazzi... we were very grateful that that he stepped up to help in the situation." District sponsor staff: "When any charter school has three months where their general fund had a deficit balance, that's when we notified them per state statute."