Financial Monitoring

The Monitoring List is DC PCSB's first step to track public charter local education agencies (more commonly referred to as LEAs) showing financial instability. LEAs are placed on this list for factors such as low cash reserves, poor cash flow margins, high debt ratios, enrollment decreases, or other financial concerns. 

The DC PCSB Finance Committee (view quarterly report) reviewed the financial status of LEAs and placed the following LEAs on the Financial Monitoring List due to one or more of the following reasons:

  • Financial performance indicators below the established floor on the most recent annual Financial Analysis Report or quarterly reviews
  • Subject to Financial Corrective Action Plan (FCAP)
  • Warranted elevated financial oversight or monitoring after review of their most recent financial statements, budgets, or consideration of recent events

Additionally, Harmony DC PCS was removed from the prior Monitoring List because they have fully satisfied the terms of their FCAP. 

Below is a list of LEAs on the financial monitoring list as of January 27, 2025. If an LEA has been issued a Financial Corrective Action Plan (or FCAP), the plan approved by the board and the date it was approved is linked below.

LEAs on Monitoring List & ReasonAdded to Monitoring ListIncluded in the Official Record at DC PCSB Board MeetingFCAP Approved by DC PCSB BoardFCAP Link
Capital Village PCS 
Reason: low enrollment targets and an increase in operating expenses at a faster rate than revenues. 		March 8, 2023March 20, 2023October 28, 2024View FCAP
Digital Pioneers Academy PCS 
Reason: right-at-target budgeted days of cash on hand as of FYE 2025; significant variance between actual and budgeted change in net assets in FY 2024, casting doubt on reliability of the FY 2025 budget.		December 10, 2024January 27, 2025NANA
Girls Global Academy PCS 
Reason: slightly above-target budgeted days of cash on hand as of FYE 2025, that may fall below-target if budgeted private contributions are not recognized in FY 2025; declining enrollment; high occupancy expenses.		December 10, 2024January 27, 2025NANA
IDEA PCS
Reason: below-floor financial performance and below target cash on hand for FY24.		June 15, 2023January 27, 2025NANA
KIPP DC PCS 
Reason: substantial financial loss due discovery of fraud committed by a former high-level employee.		January 15, 2022December 19,2022June 26, 2023View FCAP
LEARN DC PCS
Reason: below-target financial performance and sustainability measures for FY24.		March 8, 2023March 20, 2023NANA
Lee Montessori PCS
Reason: below-target days of cash on hand during FY24.		November 29, 2023February 26, 2024NANA
Mary McLeod Bethune Day Academy PCS
Reason: significant variance in construction costs estimates which may result in below-floor days of cash on hand at FYE 2025, unless  the LEA fully or partially draws down its line of credit; enrollment decline; budget submission inaccuracies.		December 10, 2024January 27, 2025NANA
Social Justice PCS
Reason: enrollment decline; LEA executed a new lease agreement for its permanent facility, whose financial implications have not yet been reviewed by DC PCSB.		December 10, 2024January 27, 2025NANA
St. Coletta Special Education PCS
Reason: negative change in net assets and looming deficit in previous quarters. 		February 5, 2024May 20, 2024NANA