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LILA Wins 8th State School Finance Award

For the eighth consecutive year, Lakes International Language Academy (LILA) was honored by the State of Minnesota Department of Education with the 2014 School Finance Award. Of the more than 570 charter schools, districts, and regions vying for the award, there were 385 winners. Of these, 129 were public charter schools—more than 80% of all Minnesota charter schools.

Minnesota Department of Education (MDE) congratulated recipients, saying the award “recognizes schools for meeting statutory deadlines for timely submission of audited fiscal financial data and reporting criteria and having a positive fund balance and accurate financial reporting.”

LILA Chief Financial Officer Julie Lundgren said, “We’re pleased to receive this award once again, and even more pleased that such a strong percentage of Minnesota charter schools earned it as well. It points to the fact that our state’s charter schools are stepping up, not only in terms of successful academics, but successful business practices, too.”

For more information about LILA’s strong financial history, see the Finances section of the LILA website.

LILA Foundation Wins $2,500

Quazar Capital, an investment banking firm in Minneapolis, announced that LILA Foundation was selected as one of its winning charities in its 23rd Anniversary Charity Contest. Melissa Martyr-Wagner, co-chair of the LILA Foundation, entered the nonprofit organization’s name in the online drawing. The $2,500 donation will help the foundation continue its mission to support the long-term success of Lakes International Language Academy.

LILA Receives Positive Bond Rating From Standard & Poor’s

The highly respected independent research and analysis firm, Standard & Poor’s, has given one of its highest bond ratings for charter schools to Lakes International Language Academy. “This favorable BBB- rating reflects that LILA is a well-run school with a solid financial foundation,” commented Julie Lundgren, LILA’s CFO. “We have ten years as a successful public school and a strong growth trend.” No charter school can receive “A” ratings.

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Make-up School Day March 31

LILA will add a make-up day on Monday, March 31. Teachers may offer online learning packets, too, to help students stay on track despite the many school cancellations due to cold weather in January.

Lakes International Language Academy is its own school district (#4116) and can set its own calendar. Normally LILA closely follows the Forest Lake Area School District #831 calendar, primarily for busing. Last week, however, District #831 announced it would add make-up days on February 17 and March 31. Because LILA had already confirmed Kindergarten Round-Up on February 17 for some 150 participants, LILA’s administration recommended to maintain the original plan for February and adopt the change for March. The LILA School Board voted to accept the recommendations at its monthly meeting on Tuesday, February 11.