Clean audit shows reserves grew to $15.9 million

What happened

The 2024-25 audit found no problems and gave a clean opinion. The school took in $41.3 million and spent $35.8 million, so its net assets grew by $5.6 million to $15.9 million. The board approved the audit on December 8, 2025.

Why it matters to families

A clean audit with growing reserves means the school's finances look stable. The audit also notes that the school was once part of Inspire Charter Schools, which a 2023 state FCMAT review examined. That review found insufficient evidence of fraud, and the school set aside $39,430 for a possible related loss.

The evidence

The audit reports an unmodified opinion, no material weaknesses and no findings. It shows total support and revenues of $41,345,982, expenses of $35,770,409 and ending net assets of $15,853,934, with an FCMAT loss contingency of $39,430. The December 8, 2025 minutes record its approval.

The source