Schools Chancellor Dennis Walcott announced Tuesday that he is revoking the charter for Williamsburg Charter High School in Brooklyn, meaning it will close in June.

Department of Education Deputy Chancellor Kathleen Grimm cited the school's ongoing fiscal mismanagement, a debt of $5 million, higher enrollment than what is allowed, and board members' conflicts of interest.

Grimm acknowledges the city renewed the school's charter in 2009 even though it appeared the school was not managing its money well.

In a statement, Deputy Chancellor Marc Sternberg says, "In a case like this, where a school has been given multiple opportunities but still failed to implement oversight and accountability, we need to take action."

Sternberg goes on to say the DOE will help families of the roughly 900 students in ninth through 11th grade in relocating to new high schools, though that may be difficult as admissions have already finished for the year.

Williamsburg Charter High School is the second school to have its charter revoked by a city schools chancellor, following East New York Preparatory Charter School two years ago.

On March 20, the Believe Southside Charter High School in Brooklyn had its charter revoked by the state Board of Regents.

A third charter school, Peninsula Preparatory Academy in Queens, may be closed this year by the DOE.

The DOE decided last month to not close Brooklyn's Believe Northside Charter High School.