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EPIC charter schools ‘Ripe for fraud’: Multicounty Grand Jury releases interim report on Epic Charter Schools investigation OKLAHOMA CITY ( KFOR ) – The multicounty grand jury investigating Epic Charter Schools has released a scathing interim report of its findings following the state’s audit report against the school. According to the report, “Due to the lack of transparency in accounting for the funds, intentional avoidance of disclosure of information by a private entity, and browse around here lack of cooperation; the investigation is unable to be completed at this time.” The concerns from the Audit Report and the subsequent investigation by the Multicounty Grand Jury can be summarized as: Lack of accountability by for-profit company Epic Youth Services By failing to provide appropriate oversight, the entities responsible have allowed significant public funds to be diverted into private accounts without transparency. The public has not been served by the incestuous relationship between the for-profit vendor, Epic Youth Services, and the governing board Community Strategies. The system has failed to provide accountability and allowed a company to take advantage and generate a substantial personal profit on the backs of Oklahoma students. This is especially offensive at a time when Oklahoma students and parents are struggling with the weight of the pandemic and its effects on our students’ education and wellbeing. This interim report focuses on the for-profit vender, Epic Youth Services LLC (EYS). “The incestuous relationship between the board and a private vendor has resulted in a lack of independent oversight,” the report states. “As designed, this system is ripe for fraud.” From 2015 to 2020, Epic Charter Schools received more than $458 million in state and federal funds as a public school. According to the State Auditor and jury findings, EYS, the for-profit branch of Epic Charter Schools that previously oversaw the school’s day-to-day operations, receives a 10% ‘management fee’ to help run the schools. Epic Charter Schools signs settlement agreement months after Oklahoma auditor exposed alleged misuse of taxpayer money That fee has generated almost $46 million since 2015, going straight to the owners of Epic Youth Services. “The overriding policy is that all public funds for the benefit of the student should be open to inspection, easily transparent into how they are spent, and accountable in their use. Funds allocated to Epic Charter Schools should be treated in the same manner as other funds allocated to any other public school system in the state.” “These are funds paid by Oklahoma taxpayers for the education of its citizens, they have a right to know how these funds are being spent,” the report states. “Funds allocated to Epic Charter Schools should be treated in the same manner as other funds allocated to any other public school system in the state.” The Multicounty Jury recommends the following: The Legislative Office of Fiscal Transparency (LOFT) should conduct an evaluation of Epic Charter Schools, as the state’s largest public school district; and report their findings to the Immediate disclosure and acknowledgment that any funds provided for the education of students, including the Student Learning Fund, are public funds and easily reviewed and reconciled. Epic Charter Schools governing board, Community Strategies, should immediately change its method of operating to provide for greater accountability and transparency. Better oversight by Charter Sponsors by making them liable for returning to the state the (3-5%) administrative fee if the public funds are found to be spent inappropriately. Increased accountability of Educational Management Organizations who operate public charter schools. The Oklahoma Legislature should publish all operating contracts for Charter Management Organizations operating schools and publish a comparison of management fees paid. Require that in-depth and independent financial audits be conducted during the midpoint of the charter school contract prior to renewal and any audits conducted for public charter schools be conducted by the State Auditor or selected from a list of approved auditors maintained by the state auditor. The Oklahoma State Department of Education through contract or the Oklahoma Legislature through statute, should provide claw back provisions for the return of funds not accounted for or inappropriately spent. The Oklahoma State Department of Education should provide better oversight of entities receiving funds.

https://kfor.com/news/local/ripe-for-fraud-multicounty-grand-jury-releases-interim-report-on-epic-charter-schools-investigation/

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Quadrant Report for 2020 . WNS was named a ‘Leader’, ISG’s highest provider classification, for Insurance services in the areas of Property and Casualty (P&C), Life and Retirement (L&R), and Third Party Administration (TPA). The ISG Provider Lens™ evaluates service providers based on criteria including scope of services offered, vision and ability to execute, market strength and awareness, and partner and ecosystem scalability. In the P&C segment, ISG cited WNS for its end-to-end insurance services portfolio, advanced digital capabilities, innovative approach and suite of hyperautomation solutions extending across customer experience , claims and underwriting . In the L&R space, WNS’ end-to-end focus on automation and analytics , strong actuarial practice , and ability to improve client outcomes across the entire insurance value chain were highlighted. With respect to the TPA insurance market, WNS was recognized for its unique BPaaS model including a best-of-breed policy administration system, and its investments in digital, automation and analytics capabilities which are helping clients drive enterprise-wide transformation. “Our deep domain expertise, combined with unique digital solutions, advanced analytics and an innovative culture of ‘co-creation’ is enabling WNS to accelerate our clients’ transformation journeys across the spectrum of Insurance services, and help them create industry differentiation,” said Keshav R. Murugesh, Group CEO, WNS. “WNS is an outstanding player in insurance BPO. The company’s long history in insurance and significant domain expertise coupled with its forward-thinking focus on automation and analytics, and commitment to enhancing and improving its already strong digital capabilities and innovative offerings sets WNS apart in this field,” Peggy Bresnick Kendler, Lead Analyst, Insurance at ISG. WNS partners with insurers, re-insurers, brokers and InsurTech companies to drive digital transformation across the P&C, L&R and TPA value chains. We leverage our differentiated BPM capabilities to help more than 55 global insurance businesses drive rapid transformation, innovation, and agility. Our insurance solutions enable our clients scale faster, quickly respond to changing market conditions, mitigate risk, reduced indemnity spends, lower cost of service, and drive improved end-customer experiences. WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics and process expertise to co-create innovative, digitally led transformational solutions with over 375 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer interaction services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of March 31, 2021, WNS had 43,997 professionals across 58 delivery centers worldwide including facilities in Australia, China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States. For more information, visit www.wns.com .

https://www.businesswire.com/news/home/20210507005253/en/WNS-Recognized-as-a-%E2%80%98Leader%E2%80%99-in-Insurance-by-ISG