The state auditor expects the 60-day window for Epic Charter Schools to repay the state $11 million to start next week.
Auditor Cindy Byrd gave a presentation Wednesday to the House Appropriations and Budget Education committee.
Byrd presented the list of findings from the audit, including funds redirected from Epic’s Student Learning Fund to its for-profit company.
“We have a school turning over money to a for-profit company at $1,000 per student and we can’t get an answer on how many students,” Byrd said. “Using state resources to run a for-profit business could be considered embezzlement.”
Committee Chair Mark McBride said Epic was invited to send a representative to the meeting but declined.