Marblehead Charter School finances looking good

MARBLEHEAD-Marblehead Community Charter Public School officials are hoping to finish negotiations with Interim Academic Director Nina Cullen-Hamzeh and Interim Managing Director Albert Argenziano by April 30.Last week the trustees of the MCCPS voted to extend Cullen-Hamzeh?s position as interim academic director for the 2008-2009 school year and authorized Board Chairman Kay O?Dwyer to negotiate a contract with her.O?Dwyer is to report on the status of negotiations by May 1, and request approval of the written contract by the date of the May board meeting.Cullen-Hamzeh receives $65,000 as assistant head of school plus an additional $30,000 as interim academic director. Argenziano is paid $50 per hour and a maximum of 20 hours ($1,000) a week.Last week?s vote was taken after O?Dwyer noted that the board?s March 27 vote to continue Cullen-Hamzeh was less specific than necessary.Meanwhile Argenziano had some favorable news for the trustees on the school?s financial future, concerning Marblehead, Swampscott, Nahant and Salem, home communities to 191 of next year?s 234 students. He meets regularly with town officials in all four communities.?Marblehead has two major building projects, both will need taxpayer support, overrides will be needed, and parents will be upset,” he predicted. “Swampscott has budget issues, space issues, and Nahant needs leadership in their schools. Salem has a short-term loan to get them through June 30. As of July 1, they still have a major shortfall.”?When you look at the situation realistically, we are a solid, sound alternative,” he concluded.Reporting for the Finance Committee, John Sullivan told his fellow trustees that revenue on a per student basis will increase so that the majority of towns will be paying more than $10,000 per student. “Prior to 2008, there were only a select number of towns that paid at this level,” he said in his report.?The school should experience a slight upswing in revenue for the 2007/2008 academic year of approximately $90,000. Given the financial challenges local communities face in the near term, the budget for next year will conservatively assume no increase from the prior year on a per student basis.”