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What happens to charter school funds and property when a charter school is closed?

April 26, 2017Charter closed funds happens Property School

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What happens to charter school funds and property when a charter school is closed?

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When a charter is not renewed or is terminated, any unencumbered public funds from the charter school reverts to the district school board; all district school board property and improvements, furnishings, and equipment purchased with public funds automatically revert to full ownership by the district school board subject to complete satisfaction of any lawful liens or encumbrances.