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November 23, 2009

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District to withhold Edison payments

Thursday, May 16, 2002 | 11:03 a.m.

Edison Schools has missed a philanthropic payment to the Clark County School District, causing the district to withhold quarterly payments to the company until further notice, an official said.

"We're following normal business practices, where people on both sides of the deal make adjustments to payments when one or the other side has faulted in a payment," Bill Hoffman, general counsel for the district, said.

The company has a five-year contract to run seven Clark County schools and is due to pay $10.5 million to the district over the life of the contract. The mony is not divided evenly over the time period, and may be used at the discretion of the district, Hoffman said.

Edison had agreed as part of its contract to seek donations from national groups.

Obstacles in obtaining the funds have included ironing out what they would support and how accountability could be established, the counsel said.

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