District news
Over $700,000 of school savings sat above the bank-insurance limit
What happened
The audit for the year ending June 30, 2026 shows $950,273 in the school's bank accounts, and only $250,000 of it was federally insured. In September 2026 the board voted to open a Local Government Investment Pool account and write an investment policy.
Why it matters to families
The money is the school's savings for land and a bigger building. That is more than two years of its general-fund spending, so how it is protected matters.
The evidence
The FY2026 audit's deposits note says bank balances were $950,273 and $250,000 was insured, with the rest uninsured. September 15, 2026 minutes record the vote to open the pool account and write the policy.
The source
Audited financial statements, year ended June 30, 2026See the full record for Island Park Charter School.
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