Venturesome Capital- State Charter School Finance Systems

Some charter schools receive incidental

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Unformatted text preview: special education), gifted and talented programs, and bilingual/bicultural services. Low-Income Students: Alaska has no low-income, at-risk or compensatory aid program. Appendix 99 Venturesome Capital: State Charter School Finance Systems Transportation: Charter schools are not required to provide transportation to students. Some charter schools receive incidental transportation service from the state if the student lives within the attendance center. These students do not cost the state any additional money, and the state does not establish any additional routes for charter school students. State Start-Up Assistance: None. Capital Outlay and Facilities Assistance: None. Timing of Payments: Charter schools maintain their financial accounts with the school districts and receive funding monthly from the general operating budget. Financial Reporting: Financial reporting is blended with school district reporting. No independent audits are required. Acquisition of Debt and Disposition of Assets: Charter schools may acquire debt, but assets revert to the school district if the charter school dissolves. Correspondence Schools: An exception to funding rules is made for schools not following traditional models including cyber-schools and home schooling. In these situations, schools are funded at what has been determined as a “correspondence school level” equal to approximately 80 percent of the base student allotment. Thus, funding for fixed costs in regular schools is not available to correspondence schools. Property Issues: A charter school recently attempted to build its own building using private funds and then lease the building back to the school district. This request was denied because the state department of education viewed the arrangement as a conflict of interest. 100 Appendix Alaska Basic Elementary Charter School FTE WFTE Alaska Weighted FTE calculations Basic K-12 School size factor subtotal a 200.0 + 72.0 b 272.0 x 1.237 District cost factor 200 c 200 Urban At-Risk Upper Grade FTE WFTE 200.0 + 72.0 200 272.0 x 1.237 200.0 + 72.0 272.0 x 1.000 x 1.0 x 1.2 x 1.2 0 0 0 0 336.5 0.0 0.0 0.0 0.0 336.5 36 25 10 19 403.8 0.0 0.0 0.0 0.0 403.8 326.4 0.0 0.0 0.0 0.0 326.4 $ 6,628 $ 3,940 $ 7,954 $ 3,940 Special needs factor Subtotal Special education Bilingual Vocational/gifted Enrolled in Title I Total weighted FTE 1. Basic need Middle Cost K-12 Charter School FTE WFTE d e f 72 50 20 38 $ 6,430 $ 3,940 2. Transportation 3. Federal funding Other federal programs Title I Special education Bilingual and immigrant $ - $ - $ - $ $ $ $ 91 - $ $ $ $ 91 125 51 9 $ $ $ $ 91 250 101 18 Total revenue $ 6,719 $ 8,230 $ 6,890 ASSUMPTIONS: All schools enroll 200 students (independent schools). Basic elementary charter school has no special needs program. Middle cost K-12 charter school population reflects the state average. At-risk upper grade charter school has twice the state average concentration of special needs students and is located in Anchorage. a In a 200 student school, small size adds about 72 students to the WFTE. District cost factor accounts for disparity in cost of...
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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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