The Islamic College of South Australia has just $1.30 left in the bank and a $200,000 debt, but its new principal will make a last-ditch attempt to save the Adelaide school from closure.
Kadir Emniyet has been in the role for five days and says the school at West Croydon has three bank accounts one with 75 cents, another with 55 cents and a third overdrawn by $200,000.
“We don’t have cash in our accounts to pay off our debts. Financially we can’t continue beyond Friday,” he said.
Parents have removed about 100 students since the Federal Government announced it would cut about $4 million in funding because the school was failing to meet condit…
Read the full article at: http://www.abc.net.au/news/2017-03-07/islamic-college-of-sa-has-1-dollar-30-in-bank/8331620
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