GREENSBORO — Oak Ridge Military Academy has failed to meet its scheduled payment this month to the 18 employees it still owes salaries to from last year .
Reginald Ponder, the school’s interim president , said the school has made 11 of the 18 scheduled payments since August .
“It’s a cash flow issue,” he said. “I think we’ve done remarkably well in making the payments we’ve made when you consider we inherited a school with a million dollars in debt and no money.”
The school sent the back pay, originally due earlier this month, to its payroll company Tuesday and the repayments should be back on schedule, Ponder said.
Money earned this year will pay for the current year’s operations.
Previous debts, including unpaid salaries and vendor debts, will be paid for through financial gifts and grants.
The nearly 160-year-old academy almost closed last school year when it nearly ran out of money. Teachers stopped receiving pay in April, though many continued to work without pay through the end of school in May.
The school also struggled to pay its debts. The school replaced its governing board and contracted with Ponder, who replaced the school’s former president, Roy Berwick.
The school expected to have as many as 79 students enrolled this fall. However, there are only 61 students currently enrolled, Ponder said.
He believes enrollment will reach 70 students by November.
Contact J. Brian Ewing at 373-7351 or brian.ewing@news-record.com
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