Home / Education / South Carolina Charter School Embezzlement Crisis Unfolds
South Carolina Charter School Embezzlement Crisis Unfolds
10 Apr
Summary
- A board member allegedly removed all funds from the school's bank account.
- State lawmakers are requesting an investigation into the financial mismanagement.
- A new operator is taking over the school to ensure its continued operation.
A South Carolina charter school, Ascent Classical Academy of Fort Mill, faces a severe financial crisis following accusations that a board member illicitly removed all funds from its bank accounts. This alleged act, occurring on April 2, rendered the school incapable of covering essential expenses, including payroll, and led to its management company terminating its service agreement.
Parents have expressed prior concerns regarding the school's resources and staffing, with one parent noting that teachers lacked necessary tools and support. In response to the immediate financial collapse, state representatives have formally requested Governor Henry McMaster to direct an investigation into possible financial mismanagement, misappropriation of funds, or oversight failures. The Inspector General and the South Carolina Department of Education are expected to collaborate on this inquiry.
To ensure continuity for students, the Charter Institute at Erskine has stepped in to operate Ascent Classical Academy of Fort Mill. This interim measure will allow the school to continue functioning through the end of the current academic year. Further meetings are anticipated to determine the definitive next steps for the school's future.
