This past Tuesday night, Quest Charter Academy's Board was asking the tough questions about financial decisions and the future of the school. Apparently, when some board members questioned what happens with a loan from Board President Glen Barton, if District 150 doesn't renew Quest's five-year contract (which expires in 2015), the discussion generally skipped over some member's questions.
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| From October 23, 2011, pjstar.com |
Quest Charter Academy Board President lends charter school $300,000
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| Glen Barton, who is President of the Quest Charter Academy Board, is a retired Chairman and CEO, Caterpillar Inc. and a Commissioner on the Illinois State Charter School Commission. (Term: 2011-2014), is speaking to students at the first Quest Charter Academy Promotion ceremony. |
Tuesday night, Quest Charter Academy's board of education approved a $300,000 loan from board President Glen Barton, along with a new $3.6 million budget with enough cuts to cover $200,000 in unexpected losses in general state aid.
The loan from Barton comes in addition to a $500,000 line of credit from Peoria County. Both loans will be used for renovations on the former Loucks and Columbia School buildings. A second mortgage on the two buildings will serve as collateral for Barton's loan.
Quest board members recently purchased the two buildings for $300,000 in a complicated three-party arrangement between the board, Peoria School District 150 and Peoria County. Quest will repay the district for the buildings with money from a private donor who established a long-term annual gift to the school, which is privately managed with public funds.
Quest's first freshman class, will grow from 75 to 90 students. Board members voted to increase the class size to offset attrition that occurs in student numbers. District 150 agreed to the increase in the freshman class size. However, the District will not give Quest additional money. The 15 additional freshman students will be selected from Quest's waiting lists.
District 150 passes its per-pupil funding in general state aid to the charter school. However, when numbers drop below 75 students in a grade level, the district decreases the revenue source. The general state aid Quest will receive through District 150 will decrease by $500 a student, or $200,000 total, next year. Source
9 comments:
IF the contract is not renewed, Quest can become a true private school and charge tuition.
I doubt the 70% of students who are low income would be able to afford tuition. For them, I guess they'd just have no choice but for their assigned public school. Oh, and it would cost Peoria taxpayers more to educate those same students at the assigned public school than at Quest.
If the new 9th grade is bringing in 15 additional freshmen they must expect 20% of the 8th grade to opt out of Quest.
I think 25 already opted out - before they added the extra 15. They selected 25 for 9th grade in the lottery.
I'm wondering if even more of the 8th graders will opt out before school starts. I think many are going to think twice before starting high school out without a full curriculum and all the extra-curriculars, etc.
I have to ask . . . why are community organizations and leaders so willing to donate time and energy and funds to Quest?
Why not District 150 programs??
Many families loved Edison-- why didn't community leaders come to the rescue of that program??
Why not give some community support to improving the IB program??
My impression -- many leaders would like to work around the District to get things done rather than collaborate with it. Perhaps for good reason.
Let's be real the people involved with Quest want their name on a school.
Little confused here -- how can the Quest Board President loan the school $300,000? Isn't that some type of conflict of interest?
And while Barton is throwing his money around, perhaps he can pay for Blackstone to legally change his name from Karatas to Blackstone, just so he can finally clear up any identity confusion.
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