Sullivan: Marblehead Charter School trying to close $54,000 budget gap

MARBLEHEAD-The faculty, staff and community of the Marblehead Community Charter Public School are rallying to close the school’s budget gap, according to the school’s treasurer, John Sullivan.Sullivan has told the school trustees that the school is in a better financial position than it was two months ago because enrollment has increased and brought more revenue and expenses have been closely scrutinized and cut where possible.Sullivan currently estimates the gap to be about $54,000.He said the one expense that has not been looked at is the faculty salary account, and he doesn’t anticipate looking at it.He commended the administration and staff for their diligence in addressing both revenue and expenses.Two weeks after taking office Sullivan and the trustees asked Interim Managing Director Albert Argenziano and Interim Academic Director Nina Cullen-Hamzeh to reduce this year’s expenses by $240,000 and find new sources of revenue.Sullivan said the school has a surplus of $470,000, but predicted that the school would face serious cash flow issues next September unless the trustees took preventative steps.The school’s troubles – a turn-over of trustees followed by a turn-over in administration – resulted in a lower-than-anticipated enrollment this fall. As of Oct. 2 the school had 192 students, 35 less than the 230 they had last year – but as of Nov. 2 the number was up to 205.The school based its $2.325 million budget for the current year on an enrollment of 230, with revenue of $10,000 per student, and expected a $46,000 surplus. The reduced enrollment caused Sullivan to project a $461,000 loss in October. Actual revenue has now increased from $1.9 million to $2.05 million.The school held two open houses Nov. 29 and Dec. 1 and while Secretary John McEnaney called the foot traffic "light," 21 families in two days, he said the interest level was high and two fourth graders were considering starting school in January.