Venturesome Capital- State Charter School Finance Systems

In the upper grade at risk school approximately 1110

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Unformatted text preview: tual transportation costs. Special Education: Charter schools receive state and federal funding if they provide services. The state reimburses districts for about 40 percent of prior year costs for educating and transporting pupils enrolled in special education. Shared costs include about 60 percent of actual special education costs. In Milwaukee, a dispute arose over whether charter schools are eligible for special education dollars in the shared cost calculation if charter schools do Appendix 183 Venturesome Capital: State Charter School Finance Systems not actually enroll an equivalent special education population. Until this dispute is resolved, the special education portion (approximately $555 per member) is being held back from charter schools by the State Department of Public Instruction. Limited-English Proficiency: Charter schools are eligible to receive bilingual education funding if they provide services to LEP students. Funding for bilingual education in Milwaukee was approximately $22 per member (not pupils served). Compensatory Education: Charter schools are eligible to receive compensatory education aid for students in grades K-5. Grants are awarded on a competitive basis to schools based on high numbers of dropouts and low-income students. Funding for this program in Milwaukee was approximately $43 per member (not pupils served). At-Risk Students: Charter schools qualify for funds if they educate children at risk of not completing high school. In 1997-98, funding for at-risk students was approximately $23 per member. Transportation: Charter schools are not required to provide transportation services to students. The state provides about 15 percent of transportation funding in Milwaukee, and about 85 percent of transportation costs are paid out of shared costs. In effect, charter schools get funding that Milwaukee devotes to transportation. Other State Categorical Aids: Other than the categorical aids already mentioned, the only program of significant dollar value that could apply generally to charter schools is school library aid (approximately $16 per pupil). Capital Outlay and Facilities Financing: School district capital outlay and debt service costs are included in the shared cost-per-member calculation (about $90 per student). Most facilities however, are owned and financed by the city of Milwaukee. State Start-Up Assistance: No state start-up funding available. Timing of Payments: Charter schools are paid quarterly in September, December, February and June. Uniform Financial Reporting: Not required. Audit Requirements: No independent financial audit currently is required. Responsibility for Debt: Charter schools can incur debt and use general school aid revenue to acquire buildings or to pay debt. Ownership and Disposition of Assets: Property purchased by a charter school remains the property of the charter school. No specific rules exist for disposing of property for dissolved charter schools. 184 Appendix Wisconsin Teacher Retirement: Charter scho...
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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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