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FORT WORTH (CBSDFW.COM) – Thousands of dollars in taxpayer’s money is going down the drain, according to former superintendent of Prime Prep Academy Ron Price.

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“They spent a lot of money and decided not to pay people back,” said Price, who resigned.

The troubled charter school was supposed to formally surrender its license Monday night but the academy’s board couldn’t get enough members to show up. Thus, the meeting was canceled.

The school could lose its charter anyway during a hearing Tuesday in Austin where state officials will have access to financial documents implicating the school in fraud and outstanding bills.

Prime Prep receives $174,000 tax dollars a month from the state. But Price said the monthly payroll alone is $202,000 — including salaries for twelve so-called librarians making $35,000 each. Problem is, the school doesn’t have a library nor books, according to Price.

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“Some elements was extremely poor management… some of it might’ve been fraud and some of it might have been criminal activity,” said Price.

Documents show there are among $520,000 in unpaid bills from companies who have done business with the charter school founded by Deion Sanders. Prime Prep owes $250,000 to Pepsi, $31,000 to a roofing company and $25,000 to a Dallas law firm.

“It’s a financial mess that I inherited, said Price.

The state has scheduled a hearing Tuesday, Jan. 27, 2015 to revoke Prime Prep’s charter. The school won’t have legal representation in Austin, meaning the charter school’s doors may finally close for good.

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