Venturesome Capital- State Charter School Finance Systems

Federal funds the weighting system incorporates

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Unformatted text preview: s: The weighting system incorporates federal funding for special education and bilingual education. Charter schools get Title I funding from the D.C. public schools as if they were traditional public schools. For competitive federal grants, charter schools are treated like independent school districts. Timing of Payments: Charter schools receive 75 percent of funding in October (the beginning of the federal fiscal year) based on initial enrollment. The other 25 percent is paid in the spring based on subsequent enrollment counts. Funding can decrease in the spring, but not increase. New schools can get a loan based on projections of the first payment. Mandated Administrative Fees: Charter schools are required to pay for any mandated district-wide assessments. Both the D.C. school board and the public charter school board charge an administrative fee of 0.5 percent. Uniform Financial Reporting: Required. Auditing Practice: The school must undergo an independent financial audit using government auditing standards. Appendix 121 Venturesome Capital: State Charter School Finance Systems Responsibility for Debt and Ownership of Assets: As a nonprofit corporation, charter school governing boards own assets and are responsible for debt. The chartering authorities monitor the disposition of assets in the event of school closure. Teacher Retirement: Only teachers who taught in other D.C. public schools are eligible to continue participation in the teacher retirement system. Otherwise, charter schools are not involved in the main D.C. public employee retirement systems. Dist. of Columbia Weighted FTE calculations Basic K-5 Basic 6-8 Basic 9-12 Special education level 1 Special education level 2 Special education level 3 Special education level 4 Limited-English proficient Total weighted FTE 2. Transportation Basic Elementary Charter School FTE WFTE a b 1.05 1.00 1.20 0.22 0.80 1.13 1.73 0.40 Middle Cost K-12 Charter School FTE WFTE Urban At-Risk Upper Grade FTE WFTE 100 0 0 0 0 0 0 0 105.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 105.0 42 25 33 3 3 2 2 4 44.1 25.0 39.6 0.7 2.4 2.3 3.5 1.6 119.1 0 50 50 6 6 4 4 8 0.0 50.0 60.0 1.3 4.8 4.5 6.9 3.2 130.8 $ 5,775 $ - 1. Local funding 3. Summer school Cost Factor Weight $ 5,500 $ 6,549 $ - $ 5,500 $ 7,192 $ - $ 5,500 $ c 4. Other state categorical 5. Federal funding Title I Special education Other federal programs Bilingual and immigrant - $ - $ - $ - $ - $ - $ $ - $ 268 $ $ $ 134 - $ d 335 d 134 $ d 134 d Total revenue $ 5,909 $ 6,951 $ 7,661 Facilities allowance $ $ $ Total revenue with facilities allowance $ 6,526 617 617 $ 7,568 617 $ 8,278 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 D.C. public school. At-risk upper grade charter school has twice the concentration of students at each special education level as the D.C. average, and all students qualify for federal Title I funding. a About 95 percent of...
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