My first question is how do you know they're at risk for losing funding?

I say this because I've been a charter school employee for over 10 years now and my son also attends a charter school. The pervasive rumor in the district is that both of these schools are about to fold and at risk for losing funding! It's all gossip and rumor, none of it is based in reality. In fact, both schools have a healthy reserve beyond what the other public schools have.

Beyond that, if they are preparing an expansion, it's unlikely that they are getting ready to fold. In most states, charter schools have to have permission either from the district or the state to expand and modify the charter. Most places wouldn't authorize an expansion if funding was in question.