Truth Dig - Charter schools often hire companies to handle their accounting and management functions. Sometimes the companies even take the lead in hiring teachers, finding a school building, and handling school finances...
In the charter-school sector, this arrangement is known as a “sweeps” contract because nearly all of a school’s public dollars 2013 anywhere from 95 to 100 percent 2013 is “swept” into a charter-management company.
The contracts are an example of how the charter schools sometimes cede control of public dollars to private companies that have no legal obligation to act in the best interests of the schools or taxpayers. When the agreement is with a for-profit firm like National Heritage Academies, it’s also a chance for such firms to turn taxpayer money into tidy profits.
“It’s really just a pass-through for for-profit entities,” said Eric Hall, an attorney in Colorado Springs who specializes in work with charter schools and has come across many sweeps contracts. “In what sense is that a nonprofit endeavor? It’s not.”
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