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        <ExplanationTxt>AS OF JUNE 30, 2015 AND 2014, CRESCENT CITY SCHOOLS BELIEVES THAT IT HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. TAX YEARS ENDED JUNE 30, 2012 AND LATER REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. CRESCENT CITY SCHOOLS DOES NOT BELIEVE THAT ANY REASONABLY POSSIBLE CHANGES WILL OCCUR WITHIN THE NEXT TWELVE MONTHS THAT WILL HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS.</ExplanationTxt>
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        <ExplanationTxt>CRESCENT CITY SCHOOLS WAS AWARDED A GRANT FROM THE FEDERAL GOVERNMENT TO SUPPORT ITS TURNAROUND WORK IN NEW ORLEANS.</ExplanationTxt>
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