"75% [of charter schools] had a least one irregularity noted in their financial audit." &mdash Minnesota 2020 (2008 Report)
These are amazing reports of financial mismanagement and other charter malfeasance from Minnesota, the birthplace of charter "schools."
Checking in on Charter Schools: A Review of 2008 Financial Management Practices
Checking in on Charter Schools - An Examination of Charter School Finances
It should go without saying that any organization with unelected, corporate, and unaccountable boards with access to public funds is a scandal waiting to happen. These reports' findings on charters with financial irregularities are quite telling, and support the contentions of public school advocates that charters are far less accountable than public schools. With the current administration using the Wall Street imposed financial crises to force school privatization (read charters) on the rest of us, we can expect more and more financial malfeasance, as corporate types and their 501c3 counterparts look to loot more from public coffers.
At least we know that it isn't just Barr, Wallace, Petruzzi, Burton, Ressler, and Austin with fast-and-loose accounting.