Venturesome Capital- State Charter School Finance Systems

Categorical funding charter schools are entitled to

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Unformatted text preview: the same as for any other public school, and charter finance is subsumed in the district’s reporting. Auditing Practice: The audit requirements are the same as for any other public school; charter schools are audited as part of their host school district. Responsibility for Debt: Charter schools cannot acquire debt. Ownership of Assets: All assets belong to the school district in the event of closure. Unexpended Funds: Funds revert to the school district at the end of the fiscal year. Teacher Retirement: Charter school employees are public employees who participate in the teacher retirement system. 162 Appendix New Mexico New Mexico Weighted FTE calculations Grade 1 Grades 2-3 Grades 4-6 Grades 7-12 Special education A/B Special education C Special education D Sp. educ. related services Cost Basic Elementary Factor Charter School Weight FTE WFTE Middle Cost K-12 Charter School FTE WFTE Urban At-Risk Upper Grade FTE WFTE 1.20 1.18 1.05 1.25 20 40 40 0 24.0 47.2 41.8 0.0 10 20 20 50 12.0 23.6 20.9 62.5 0 0 0 100 0.0 0.0 0.0 125.0 0.70 1.00 2.00 0 0 0 na 0.0 0.0 0.0 0.0 11 4 4 na 7.7 4.0 8.0 14.0 11 8 8 na 7.7 8.0 16.0 28.0 0 5 10 na 2.5 155.2 x 1.093 na 5.0 189.7 x 1.097 169.6 8.0 na 208.1 16.0 12.0 na a Limited-English proficient Subtotal Training & experience factor 0.50 a na 0.0 113.0 x 1.093 Subtotal At-risk index a na 123.5 0.0 na School & district size factors a na 12.0 na Total weighted FTE 135.5 189.6 0.0 224.1 1. Base funding b $ 3,147 2. Transportation c $ 270 $ 270 $ 270 $ 2,322 $ 4,403 $ 2,322 $ 5,204 3. Instructional materials 4. Federal funding Title 1 Special education Other federal programs Bilingual and immigrant $ 46 $ 46 $ 46 $ $ $ $ 46 - $ $ $ $ 172 54 46 20 $ $ $ $ 344 108 46 40 Total revenue $ 3,509 $ 2,322 $ 5,011 $ 6,058 ASSUMPTIONS: Each school has 100 students. Basic elementary charter school has no pupils generating program cost weightings. Middle cost K-12 charter school has the same student population as the average New Mexico school district. At-risk upper grade charter school has twice the concentration of students at each special education level as the New Mexico average and is located in Albuquerque. a Based on indexes, not pupil counts. Basic and middle cost schools use state average indexes. At-risk charter school uses indexes for Albuquerque. b W eighted FTE per pupil funding of $2,322 applies to all school districts. All variation in FTE spending depends on pupil weightings and indexes for training and experience, at-risk students and size factors. c Represents state aid per enrolled pupil, which covers all transportation costs in most districts. Appendix 163 Venturesome Capital: State Charter School Finance Systems North Carolina Base Funding: Charter schools receive an amount equal to the state per-pupil allocation of operating funds to the school district in which the student was previously enrolled minus special education funds. School district operating funds include financial support for vocational education, gifted education, transportation and...
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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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