Charter Schools a Bad Investment for New York

NEW YORK, NY (05/27/2010)(readMedia)-- BALCONY, the Business and Labor Coalition of New York (www.balconynewyork.com), has joined NYSUT, UFT, and others in calling on the New York State Assembly to oppose a New York State Senate bill to expand the number of charter schools in New York State from 200 to 460 without necessary reforms that address accountability, transparency, over saturation and co-location issues.

BALCONY is skeptical of the proposed increase in charter schools, concerned that this investment fosters a two-tiered system of education in our state -- one of fiscally and academically accountable public schools and another of unaccountable charter schools. The Senate proposals (S.7678/A.10928) would raise the cap on the number of charter schools in New York State from 200 to 460.

The bill was passed by the Senate on May 3^rd , despite significant opposition and a recent report " A $2 Billion Dollar Decision" from NYSUT that revealed financial mismanagement, conflicts of interest, and concerns about student enrollment within the charter school industry in New York.

"Charter schools are a questionable investment for New Yorkers since they are not held accountable to the State of New York. Based on recent studies it is clear that there must be more oversight and transparency when it comes to New York's charter schools. We need to make sure these schools are accountable the same way our public schools are before we build more of them or we are going to end up with a lot of mediocre institutions," stated BALCONY Co-Chair Bruce Ventimiglia, Chairman of Saratoga Capital Management LLC.

BALCONY urges its members and the State Assembly to push for stronger financial, ethical, and operational reforms to the state's charter school law before supporting any efforts to expand the charter school industry in New York State.

BALCONY strongly supports the reforms proposed by NYSUT and believes they are necessary to protect students, teachers, and taxpayers as we work together to reform and improve education in New York State.

"Increasing the number of charter schools in New York State will not fix our education system. We need to be investing in our public school system, which continues to serve 97% of the population, not feeding our kids and our resources into an already dysfunctional charter school industry. I am for any bill that improves or expands education and schools, but this particular Senate bill lacks the necessary language of reform to ensure charter schools will be accountable and transparent. We need comprehensive reform of the charter school law before we consider expanding that system," concluded BALCONY Co-Chair Alan Lubin.

For more information contact:

Lou Gordon, Director of BALCONY

Phone: 212-219-7777

Email: loug@balconynewyork.com

BALCONY * 212-219-7777 * 633 3rd Avenue, 17th Floor * New York, NY 10017

www.balconynewyork.com