“We did not have a layoff of staff in order to make sure that we maintained the services for students,” Algaze said. The virtual school has avoided cutting staff in anticipation of “slight increases” in course completions in the coming year, he said. “What caused more expenditures this year?” trustee John Watret asked during Tuesday’s meeting.Īlgaze attributed the boost, in part, to spending on salaries. But it spent $227,676,941, nearly $13.9 million more than last year. The school reported $233,406,574 in revenue through the end of March - an increase of nearly $4 million from the previous year. Meanwhile, Florida Virtual School’s expenditures have outpaced revenue growth within its operating fund, according to the report. During the same period a year earlier, the school posted 368,430 flex-course completions. The financial report showed 376,444 flex course completions from July 1 through March 31. According to Florida Virtual School’s website, the flex program provides online instruction to public, private and home-schooled students who “receive their primary schooling through a traditional brick and mortar school.” That represents a decrease of 17,379 courses from the same time period in the prior year, when full-time students completed 68,003 courses.įlorida Virtual School, however, saw an increase in part-time “flex” course completions. The report showed that full-time students completed 50,624 courses from July 1 through March 31.
“Yes, the drop overall has been because of COVID - the return after COVID - in all of the financials, actually,” Louis Algaze, president and CEO of Florida Virtual School, said during a meeting of the school’s trustees Tuesday.Ī quarterly financial report given to the trustees outlined the decrease. The completion of courses is a key metric for the school, which only gets paid if students finish online classes.Īfter a significant influx of enrollment in recent years driven by the pivot to online learning during the coronavirus pandemic, the number of students completing courses through the virtual school has dwindled. Florida Virtual School has put a pause on hiring and is taking other cautious financial measures amid a drop in full-time students completing courses over the past year.
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