OKLAHOMA CITY – After a thorough review of the investigative audit of Epic Charter Schools conducted by the State Auditor’s office last year, and a ruling by the State Board of Education (SDE), Epic Charter Schools has agreed to repay $9.11 million to the state.
“I want to commend SDE for its work to determine Epic’s administrative costs,” said State Auditor & Inspector Cindy Byrd. “Because of our audit, Epic will return approximately $20 million in total to the State.
“Epic Charter Schools is a public school district, funded 100% by taxpayers, and my office has a duty to make sure they are spending the money properly. We asked for records and its hired education management company (EMO) refused to fully comply. Our audit findings verified the numbers based on the information the company did provide. Today’s agreement confirms that Epic’s EMO abused millions of taxpayer dollars by hiding its excessive administrative costs.”
Under the operating agreement between Epic Charter Schools and its hired management company, owners Ben Harris and David Chaney were taking 10% of every dollar Epic received to provide administration and management to the school. Their 10% fee exceeds the 5% administrative cap in state law.
by Muskogee Politico - December 17, 2021 at 07:49AM
Epic Charter Schools agrees to repay $9.1M to State after audit, bringing total to $20M
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