Unformatted text preview: ties Funding: A little less than $100 per student in capital outlay funding is in a school district’s general operating fund. This money flows to charter
schools. Additionally, a facilities funding program reimburses local districts and charter
schools for debt service related to capital projects. Considered on a case by case basis,
charter schools may be eligible for a minimum 30 percent reimbursement of costs
associated with support for facilities.
State Start-Up Assistance: The state will provide start-up loans—repayable over five years—if no federal funds are available.
Timing of Payments: Some funding is available before school starts. Rhode Island charter schools get payments from both the state and local school districts. State payments are
distributed quarterly beginning July 1. School district payments are provided quarterly
Uniform Financial Reporting: The charter school budget is usually included in the school district budget. Starting in 1999-2000, charter schools are required to provide individual
uniform financial reports.
Auditing Practices: Charter schools are required to have an annual audit.
Ownership of Property and Disposition of Assets: Charter schools are eligible to own property. Details are set in the charter.
Teacher Retirement: Charter schools are required to participate in the state teacher retirement system. 172 Appendix Rhode Island Rhode Island
Total FTE enrollment
Components of operating costs
General fund Basic Elementary
100 a Disadvantaged Middle Cost K-12
100 $ 5,311
b Urban At-Risk
100 $ 5,311 $ 5,056 0
c Special education
Special education infant,
preschool, & private school tuition
Private school transportation
Research and analysis e f Community service
Student activities and athletics
g Capital outlay
Total operating costs $ 103 33 $ 103 64 $ 525 0 $ 890 18 $ 890 36 $ 917 $ 195 $ 195 $ 197 $ 408 $ 408 $ 365 $
86 $ 21 $ 21 $ 5 $
42 $ 7,106 $ 7,106 $ 7,238 95 percent funding
1. Base funding @ 95%
2. Federal funding
Other federal programs
Bilingual and immigrant
Title I x .95
$ 6,751 x .95
$ 6,751 x .95
$ 6,876 $
$ Total revenue $ 6,835 84
152 $ 7,059 84
304 $ 7,410 ASSUMPTIONS: Basic elementary charter school has no at-risk or special needs students. Middle cost K-12
charter school reflects the state average student population. At-risk upper grade charter school has twice the
state average concentration of special needs students. The figures above are actual 1997-98 average
operating funds used to determine charter school funding for the1998-99 school year. For this example,
Providence is the urban school district hosting the at-risk charter school, and Cranston represents an average
school district for the other two hypothetical charter schools.
a General fund comprises instruction, instructional improvement, gifted, attendance, guidance programs,
school management, staff and fiscal services, and administrative support.
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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.
- Spring '09