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 Is Fox Creek Charter High School “Insolvent”? web posted December 12, 2008 JOHNSTON – The Annual audits of the Edgefield County School District and Fox Creek High School were presented to the Edgefield County School Board Tuesday night. Though no one from the Fox Creek’s Board of Directors was present to address the audit, School Board Secretary Andy Livingston questioned the school’s fiscal solvency. With only $267,819 in assets at the end of the 2008 fiscal year, and a $575,580 liability, Livingston questioned how the charter school could pay their bills. After a FOIA request by EdgefieldDaily.com, records show the charter school will absolve the half million-dollar debt, and has presumably done so since it was due in early October, with only half of the assets on hand. This brings into question the school’s ability to take on a debt ten times that amount, $5.3 million for the new school. The information provided is still being reviewed and additional reports will follow. ©
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