Parent on Eagle charter school's financial woes: 'Very concerned'

EAGLE, Idaho (KBOI) -- Reaction among parents of North Star students varies when it comes to the financial crisis facing the 10-year-old K through 12 charter school in Eagle.

"I'm not worried," said parent Daphne Sosa. "I just want to know what I can do to help because this is a great school."

"We're very concerned, very upset about it," said parent Cheryl Gliver. "We love our school. We're hoping it's not going to close."

But closure is a possibility after the Meridian School District ordered North Star administrators to fix its out-of-control budget or face the consequences.

The Meridian School District put North Star Charter on official notice based on what the school district called "a lack of short term and long term financial soundness."

Audits show the school will be short $30,00 in April and $640,000 in June.

The budget crunch is driven primarily by high interest rates on bonds used to finance a new school in 2008.

"So we issue them a notice of defect," said Meridian School District Spokesman Eric Exline. "That means within 30 days they need to come back with a plan that shows how they will remedy the defect in operation."

A public hearing will follow and decisions will be made.

But in a letter to parents, North Star's board of trustees said they are working with private investors to lower the debt, and expressed confidence in completing this school year "and many more school years to come".