Venturesome Capital- State Charter School Finance Systems

Venturesome Capital State Charter School Finance Systems

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Unformatted text preview: ........................................ 64 Table 19 — Charter School Acquisition of Debt............................................................................................ 65 Table 20 — Responsibility for Charter School Debt...................................................................................... 66 Table 21 — Ownership of Assets Purchased with Public Funds of Closed Charter Schools ............................................................................................................................................... 67 Table 22 — Charter Schools Allowed To Maintain a Postitive Fund Balance............................................... 68 Table 23 — Facilities Funding ....................................................................................................................... 71 Table 24 — Participation of Certified Teachers in Teacher Retirement System............................................ 77 Table 25 — Participation of Charter Schools in Teacher Retirement System, 1998-99 .............................................................................................................................................. 78 Table 26 — Funding of Charter Schools Compared to Host School District ................................................. 85 vi Executive Summary Executive Summary The First Report of the National Charter School Finance Study examines the laws, regulations and state practices governing charter school finance during the 1998-99 school year in 23 states and two cities. These states and cities had operative charter schools during 1997-98, and thus had at least one year of experience in implementing laws and developing financial practices. In addition to describing finance laws and practices, our report includes an estimation of the actual dollar amounts that states allocate to charter schools based on the types of students enrolled, and numerous other factors central to charter school funding.1 Our report also assesses comparability of charter school funding to other public schools with similar students and education programs. Structure of Funding. Charter school funding policies vary from state to state, but they share many of the same components. § At the heart of charter school funding systems is per-pupil base funding. In some cases, this funding is based on a state average per-pupil expenditure (e.g., Minnesota); in others it is based on district average revenue or expenditures (e.g., Massachusetts); and in still others, the amount is negotiated between charter schools and the chartering agency (e.g., Colorado). (See Table 2.) § Per-pupil base funding is only one component of an eclectic financing system involving numerous state and federal revenue sources, and frequently, negotiations between charter schools and school districts. § Per-pupil funding includes some funding for facilities in Arizona, the District of Columbia, Florida, Massachusetts, Milwaukee, Minnesota and Rhode Island, but charter schools in ma...
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This note was uploaded on 02/11/2013 for the course ECON 101 taught by Professor Smith during the Spring '09 term at Harvard.

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