MN SF2962

Charter school boards must appoint a school closure trustee, approved by the authorizer, within 15 business days of the final decision to close a school by any means (voluntary closure, nonrenewal, or termination).

Trustee must be a Minnesota resident with a bachelor's or postgraduate degree in accounting, law, nonprofit management, educational administration, or related field, and have at least five years of work experience in their degree area.

Trustee must pass state and federal criminal background checks and cannot have felony convictions, civil fraud liability, wage garnishment history, or bankruptcy filings; must also have no prior employment or family connections to the school.

Trustee must approve all school expenditures before payment, serve as required signatory on all accounts, execute the closure plan including student record transfers, and has authority to void extraordinary payments made within 90 business days of closure.

Establishes a charter school closure fund managed by the Department of Administration, financed by a per capita fee of $1 per pupil annually until reaching a $200,000 cap, with funds limited to external audits, liability insurance, legal costs, and trustee fees (maximum $70,000 per school closure).