ID H0511

Charter schools that are not virtual schools and have been open for more than two years must maintain at least 15 days' worth of cash on hand as of June 30 each year.

If a charter school falls below the 15-day cash requirement, the authorized chartering entity must notify the school by November 30 that it has until June 30 of the following year to cure the deficiency.

If the school again has less than 15 days' worth of cash on hand the following June 30, the authorized chartering entity must begin revocation proceedings by November 30 of that year.

A charter may be revoked if the school fails to cure the cash on hand deficiency by the specified dates, subject to a public hearing unless continued operation presents an imminent public safety issue.

Decisions to revoke or nonrenew a charter may be appealed directly to the state board of education.