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State audit uncovers accounting problems, debts as student enrollment drops
By By John Higgins and Carol Biliczky
Beacon Journal
Published on Wednesday, Jul 16, 2008
An Akron charter school that is losing enrollment and struggling with accounting basics still owes a former community school about $34,000, according to Ohio Auditor Mary Taylor.
Taylor's office issued eight findings on Tuesday against Lighthouse Educational Development Corp. in a routine audit.
The report said the school with kindergartners through fifth-graders made a series of mistakes in the academic year ending June 30, 2007.
Among them, the school did not repay about $34,000 owed to the Akron Community School, another charter school that closed; overpaid almost $1,000 to its fiscal agent, Innovative Learning Solutions; did not submit a five-year projection of revenue to the state as required; and did not have a records policy in place.
The state audits charter schools annually. Lighthouse's debt to Akron Community School was noted in last year's audit and the matter was referred to the Ohio Department of Education.
It shows up on this year's audit as ''uncorrected'' and it has again been turned over to ODE, said Steve Faulkner, Taylor's spokesman.
''What this audit reveals is that the school is experiencing some financial difficulties if they're unable to pay certain obligations,'' Faulkner said. ''That is a concern.''
The school contracted with the Akron Community School in 2004 to run day-to-day operations. ACS was no longer in operation as of June 30, 2005. However, Lighthouse still owes $24,000 of a $25,000 loan to ACS and another $10,000 in other obligations.
Lighthouse officials told the state they are working with the Ohio Department of Education.
Lighthouse also told the state it has turned the matter of a $996.35 overpayment to Innovative Learning Solutions over to the Summit County Prosecutor's Office.
The Lighthouse audit revealed basic accounting problems, such as failing to balance bank records in a timely manner; losing payroll journals, time sheets and supporting invoices; and not processing all financial activity through the school's main accounting system.
Lighthouse responded that it has changed fiscal agents and is establishing a public records policy. Charter schools are independent schools that are funded with state money that otherwise would have been paid to the school district the student would have attended.
The schools partner with a community sponsor — in Lighthouse's case, the Richland Academy for the Arts in Mansfield — and with a fiscal sponsor to oversee its finances.
During the year, the income of the school at 1585 Frederick Blvd. decreased by about $800,000 from the previous year because of a reduced number of students. It ended the year in the red by about $381,000.
Enrollment dropped from about 204 students at the end of fiscal year 2006 to 54 students the following year, according to state records. The latest enrollment figures show about 110 students.
The audit notes that Lighthouse closed its downtown campus and discontinued offering sixth through eighth-grade classes, which resulted in the decline in student enrollment.
John Higgins can be reached at 330-996-3792 or jhiggins@thebeaconjournal.com. Carol Biliczky can be reached at 330-996-3729 or cbilizcky@thebeaconjournal.com.
An Akron charter school that is losing enrollment and struggling with accounting basics still owes a former community school about $34,000, according to Ohio Auditor Mary Taylor.
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