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Everest charter school to close after second-interim financial review shows unsustainable enrollment
Summary
District staff told the board that Everest Public Schools submitted a positive-certified second interim report but very low average daily attendance (ADA ~195) and declining local property tax transfers led its governing board to adopt a resolution to close the charter at the end of the school year.
District staff reported on second interim financial reviews for three district-authorized charter schools and recommended action on Everest Public Schools after staffing and enrollment declines.
According to the presentation, Everest submitted a two-year cash-flow statement projecting ending cash balances of approximately $1.9 million and $1.5 million, but ADA declined and local property tax transfers fell by roughly $500,000; at the P2 ADA reporting the school had an ADA of about 195. The Everest governing board adopted a resolution to close the charter at the end of the school year.
Staff explained that when a charter school relinquishes its charter the entity maintains its own books during wind-down and that any residual funds belong to the charter organization, not the district. Summit Prep and KIPP Aspire presented positively certified second interim reports and remain financially viable in the near term, though Summit expects a smaller incoming 9th-grade cohort in out years.
Board members asked about the process for returning buildings and how students will be placed for the next school year; staff confirmed families will be offered enrollment choices, including neighborhood schools or transfer to Summit where space and capacity permit.
What happens next: Everest will proceed with its wind-down plan per its resolution and the district will monitor student placement options and facility transitions.
