Del. gives charter $350K to finish school year

By Associated Press 8:49am, April 26, 2013
Delaware education officials are giving a New Castle high school whose charter was revoked $350,000 to help it stay open for the rest of the school year.

Pencader Charter is scheduled to close at the end of this year after the state pulled its charter in February.

Pencader, which was founded in 2006 for students interested in business careers, has had academic, financial and administrative problems and was placed on probation four times. The school announced earlier this month that it couldn't pay for closing costs or teacher salaries, which could have led to an early closure.

The Department of Education says the money will be used only to cover outstanding payroll. School officials say they'll negotiate with creditors to bridge their remaining $113,000 shortfall.

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