Clean audit for charter schools

Published 6:31 pm Monday, February 13, 2023

Lake Charles Charter Academy, Southwest Louisiana Charter Academy and Lake Charles College Prep have been given a clean bill of health for fiscal year 2022, according to audits publicly released by the Louisiana Legislative Auditor on Monday.

Both audits were contracted and conducted by Keefe McCullough CPAs and Advisors, an accounting firm based out of Fort Lauderdale, Fla.

The two audits — one conducted for Lake Charles Charter Academy Foundation and one for Southwest Louisiana Charter Academy Foundation — reported that “the combined financial statements present fairly” the financial positions of both foundations for FY 2022, which ended June 30.

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The Southwest Louisiana Charter Academy Foundation — which encompasses SWLCA and LCCP — report indicated combined total assets of $45,236,700. SWLCA reported total assets of $14,655,590, LCCP reported $30,559,263 and SWLCA Foundation reported $292,462. $270,615 in eliminations were reported.

The Lake Charles Charter Academy Foundation reported total assets at $22,449,071.