Source: Reason Foundation
In recent years, the charter sector has led the way in promoting greater transparency, with numerous authorizers adopting financial performance frameworks that track and report on key measures of financial health. With the recent passage of HB 2663, which allows ASBCS to close charters that fail to meet these financial standards, now is a critical time to assess how this framework is working and implement needed improvements. Several reforms can improve ASBCS’s financial performance framework in the short term. The most important areas to address are the framework’s roll-up mechanism and creating the infrastructure needed to close financially distressed charters in a manner that is fair, transparent, and accounts for local context.