Florida charter told to fix finances or close

A charter school in Maitland, Fla., paid four administrators more than $520,000 last year and, even though the school was deeply in debt, allowed lavish and uncontrolled spending by two of those administrators. An audit by the Orange County school district found that Summit Charter School had defaulted on credit-card payments and almost ran out of money to pay its teachers and other bills. As a result, the Orange County School Board is expected to give the school's board of directors 60 days to straighten out its administration and finances or shut down. The school serves 325 learning-disabled children on two campuses, one in Maitland and one in College Park.

Click here to read The Orlando Sentinel article.