View Resource: Asset Transfer MOU Redacted
This is a sample Asset Transfer MOU between two public charter schools in Washington DC, one who was closing and one who was becoming the restart operator. The MOU identifies the rights, responsibilities, and detailed asset transfer expectations between the closing school and the restart operator. The document reflects a nuance about DC law whereby this agreement had to treat students as “assets” in order to transfer their enrollment to the new provider. Most jurisdictions do not need to do this because local laws allow preferred enrollment to students displaced through school closure, even if the replacement school is a charter school.
Outcomes and Lessons Learned: While operator experience and organizational capacity are critical to successful school restart, it is equally important to invest time in understanding and responding to the school community’s needs. Incoming operators need to engage the existing students and families in restarting the school program, often with a renewed focus on academics while still honoring essential components of the closing school’s mission and education philosophy. The most successful restarts occur when the restart staff and the closing school’s staff worked together during the transition period. Any type of contract document like this sample agreement should clearly articulate the rights and responsibilities of both parties (incoming restart operator and current school staff) to ensure that families have an authentic opportunity to engage with the incoming operator.