Updated: 6:39 PM EDT Jun 5, 2021 WXII12.com Web Staff Bridges Academy in State Road has announced it will relinquish its charter and close on June 30, as an investigative audit of the school continues. Leaders shared the news Friday in a letter to parents following the Board of Directors' vote. The school later made the announcement on Facebook.The Board of Directors' decision comes two months after it brought in an outside consulting team to rebuild and reinforce leadership.A viewer shared the letter with WXII 12 News.The letter stated the consultants found irregularities with the school's operation, and the State Auditor separately began in investigative audit of the school."As both the state audit and the school's investigation have continued, it has become apparent that there were financial irregularities that threaten the financial well-being of the school," the letter states. "These irregularities were concealed from the Board of Directors and have resulted in insurmountable financial challenges."Bridges Academy said it recognizes the uncertainty the closure means for families and will do what it can to help them in the next steps.This is a developing story. Check back for updates.