Venturesome Capital- State Charter School Finance Systems

Special education the contract between a charter

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Unformatted text preview: es to charter schools as needed. After consultation with the school district and the families involved, charter schools may choose not to serve individual special education students at that school if it cannot accommodate their needs consistent with the charter. However, enrollment cannot be denied based on disability. Transportation: The charter school proposal must delineate plans for transportation of low- income and at-risk students, but otherwise charter schools are not required to provide transportation. The local school district is not required to provide transportation other than services similarly provided to nonpublic school students, unless it agrees to provide it as part of the charter agreement. State transportation aid for school districts amounts to about $95 per pupil (averaged over all pupils, not pupils transported) and is allocated through an equalization formula. Categorical Programs: Charter schools are entitled to their proportionate amount of federal and state categorical funding available for eligible students who enroll in the charter school. Averaged across all students enrolled, categorical aid amounts to about $150 per pupil. Limited-English Proficiency: Regular schools with more than 20 LEP students are required to have a bilingual program. Chicago allocates about $450 in state funds per qualifying bilingual education pupil in charter schools. Low-Income Students: Supplemental general state aid (also known as state Chapter 1 funding) provides substantial extra resources for schools with low-income students. Charter schools in Chicago get $767 from these funds for each low-income student. Approximately 80 percent of Chicago students qualify. 134 Appendix Illinois Capital Outlay and Facilities Assistance: None provided in FY 1999. The Illinois Facilities Fund (IFF), a nonprofit community development loan institution, works with nonprofit organizations statewide to address capital needs. Federal Funds: School districts are required to allocate a portion of their federal dollars to charter schools on the same basis that a district allocates federal aid to other district schools. State Start-Up Assistance: The charter school law authorizes a $500,000 revolving loan fund. On its own, the Chicago school district established a $2 million revolving loan fund administered through the IFF. Timing of Payments: School districts must pay tuition funds in four equal quarterly payments beginning no later than July 1. By Oct.1, charter schools have received half of their base funding. Financial Reporting: Independent annual financial audits are required. Other financial reporting is blended with school district reporting. Debt Acquisition and Responsibility for Debt: The nonprofit corporation that runs a charter school is allowed to incur debt and is responsible for paying off the school’s debt to the extent possible. The district is not responsible for any debt incurred by the charter school. Ownership and Disposition of Assets: In the event of closure, a charter school would also be required to refund to the local school board any unspent funds received from the boa...
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