State scrutinizes 2 Las Vegas charter schools over their finances
LAS VEGAS (KLAS) — The state agency that oversees charter schools is narrowing in on the finances of several valley schools, claiming they have too much debt to stay open.
Sage Collegiate Public Charter School and Nevada Prep Academy Charter School were brought before the State Public Charter School Authority (SPCSA) on Friday to discuss their budgets.
'We've taken steps to address obstacles like chronic absenteeism and student achievement, and we've taken steps to tackle the financial challenges as well,' Sage Collegiate Principal Sandra Kinne told members of the SPCSA.
Charter school enrollment in Nevada has increased so much that the schools collectively are the second-largest district in the state.
Last year, the agency closed Eagle Charter School after it failed to pay back more than $800,000 in taxpayer money. That was the first time in the agency's history it has closed a school.
State moves to seize assets of Las Vegas charter school, claims it failed to pay back over $800K in taxpayer money
Sage Collegiate opened three years ago on Charleston Boulevard near Valley View Boulevard.
'Families deserve options for their children in a public setting,' Kinne told 8 News Now on Jan. 19, 2023.
But the State Public Charter School Authority said Sage Collegiate has taken on too much debt.
'We use the audit financials because this is a very high-stakes decision and so we use an objective third-party that has reviewed what has happened in the past, rather than sort of hopes for the future,' Katie Broughton, SPCSA's director of authorizing, said.
The agency sought on Friday to give Sage Collegiate a Notice of Breach, which is the step before issuing a Notice of Intent to Revoke.
Kinne said 25% of its pupil-centered funding goes to rent.
'A Notice of Breach prohibits us tackling the biggest challenge, which is our rent,' Kinne said. She argued that a Notice of Breach would prevent Sage Collegiate from taking out loans.
But according to the State Public Charter School Authority, Sage's current financial position is strained, heavily leveraged and reliant on multiple loans. The agency also accused Sage of not paying its teacher retirement contributions to the state.
'I can't sit here and personally say you're in a better financial position if you're not able to pay your teachers their full compensation package that they are owed,' Melissa Mackedon, the executive director of SPCSA, said.
The agency voted to give Sage Collegiate until May to respond on how it's tackling its financial issues.
The state agency also scrutinized Nevada Prep Charter School. According to the agency, Nevada Prep has missed three lease payments and its 'debt is consuming approximately 30% of the state revenue' it receives.
SPCSA gave the school until the agency's next meeting on May 30 to present more information.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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19-04-2025
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State scrutinizes 2 Las Vegas charter schools over their finances
LAS VEGAS (KLAS) — The state agency that oversees charter schools is narrowing in on the finances of several valley schools, claiming they have too much debt to stay open. Sage Collegiate Public Charter School and Nevada Prep Academy Charter School were brought before the State Public Charter School Authority (SPCSA) on Friday to discuss their budgets. 'We've taken steps to address obstacles like chronic absenteeism and student achievement, and we've taken steps to tackle the financial challenges as well,' Sage Collegiate Principal Sandra Kinne told members of the SPCSA. Charter school enrollment in Nevada has increased so much that the schools collectively are the second-largest district in the state. Last year, the agency closed Eagle Charter School after it failed to pay back more than $800,000 in taxpayer money. That was the first time in the agency's history it has closed a school. State moves to seize assets of Las Vegas charter school, claims it failed to pay back over $800K in taxpayer money Sage Collegiate opened three years ago on Charleston Boulevard near Valley View Boulevard. 'Families deserve options for their children in a public setting,' Kinne told 8 News Now on Jan. 19, 2023. But the State Public Charter School Authority said Sage Collegiate has taken on too much debt. 'We use the audit financials because this is a very high-stakes decision and so we use an objective third-party that has reviewed what has happened in the past, rather than sort of hopes for the future,' Katie Broughton, SPCSA's director of authorizing, said. The agency sought on Friday to give Sage Collegiate a Notice of Breach, which is the step before issuing a Notice of Intent to Revoke. Kinne said 25% of its pupil-centered funding goes to rent. 'A Notice of Breach prohibits us tackling the biggest challenge, which is our rent,' Kinne said. She argued that a Notice of Breach would prevent Sage Collegiate from taking out loans. But according to the State Public Charter School Authority, Sage's current financial position is strained, heavily leveraged and reliant on multiple loans. The agency also accused Sage of not paying its teacher retirement contributions to the state. 'I can't sit here and personally say you're in a better financial position if you're not able to pay your teachers their full compensation package that they are owed,' Melissa Mackedon, the executive director of SPCSA, said. The agency voted to give Sage Collegiate until May to respond on how it's tackling its financial issues. The state agency also scrutinized Nevada Prep Charter School. According to the agency, Nevada Prep has missed three lease payments and its 'debt is consuming approximately 30% of the state revenue' it receives. SPCSA gave the school until the agency's next meeting on May 30 to present more information. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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About Demandbase Demandbase is the leading account-based GTM platform for B2B enterprises to identify and target the right customers, at the right time, with the right message. With a unified view of intent data, AI-powered insights, and prescriptive actions, go-to-market teams can seamlessly align and execute with confidence. Thousands of businesses depend on Demandbase to maximize revenue, minimize waste, and consolidate their data and technology stacks – all in one platform. For more information about how Demandbase can help you scale your GTM strategy, visit View source version on Contacts Demandbase Contact Kristin HegePR@ 480.540.6496 Informa TechTarget Contact Garrett MannVice President, Corporate CommunicationsInforma Sign in to access your portfolio
