House Bill 1395 essentially holds virtual charter schools, such as the fast-growing Epic Charter School, to the same reporting standards as traditional public schools.

Virtual charters will have to be more transparent about contracts with education management companies and report salaries of superintendents, administrators, board members, managers and owners. HB 1395 also adds conflict-of-interest restrictions on employees and annual training requirements for charter schools’ governing board members, again mirroring requirements on traditional public schools.

That will mean Epic will have to change its top administration, according to Rep. Sheila Dills, R-Tulsa, the bill’s author and principle proponent.

Under the new law, Epic Superintendent and co-founder David Chaney won’t be able to remain in the school’s top leadership position because of his ownership stake in Epic Youth Services, the for-profit company that contracts to manage the school, Dills says.

The Epic Youth Services contract calls for an annual cost of $125,000 for “development services” plus a 10 percent share of the school’s collected revenues as an “indirect cost allocation.” Epic Charter Schools has been allocated $112.9 million in state aid funding for fiscal year 2019.

The school has publicly welcomed the new law, says it participated in its crafting and says it will fully comply, but hasn’t offered any details on personnel moves.

HB 1395 brings needed transparency to how virtual charter schools use public money.

Once we know where the money is going, state taxpayers will be able to make a more informed decision about whether it’s a reasonable use of our education dollars.