Even though the school is expecting a surplus of $250,000 in unrestricted funds this year, the school's reserves are below what is recommended.
Board members recently learned the charter management organization had only received $1,800 of the budgeted $755,922 as of Jan. 31.
Among the desired qualities in a new home: availability of programs like Teach for America and The New Teacher Project to staff the schools.
The March 2 auction raised more than $10,000.
Despite Warren Easton High officials' concerns last month that Orleans Parish school officials were moving too slow, the district has agreed to tackle masonry and waterproofing this summer.
Old McDonogh 7 building on Milan Street is better than the Carrollton courthouse, but it also has major shortcomings, parents say.
The school's academic chief says students at the D school were scoring higher than average on Achievement Network tests as they prepared for LEAP.
Because the money was returned, police are pursuing forgery rather than theft charges.
Col. Bill Davis, commandant for the Federal City charter school, said Sen. Mary Landrieu is expected to serve as a guest speaker for the April 8 event.