Venturesome Capital- State Charter School Finance Systems

The department of children families and learning

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Unformatted text preview: retirement system. Private Contributions: Charter schools can accept private contributions, but only for start-up purposes of capital facilities and must report them to the state. Cost Basic Elementary Charter School Factor Weight FTE WFTE Minnesota Weighted FTE calculations Grades 1-6 Grades 7-12 Total weighted FTE Urban At-Risk Upper Grade FTE WFTE 100 0 100 106.0 0.0 106.0 50 50 100 53.0 65.0 118.0 0 100 100 0.0 130.0 130.0 $ 3,935 $ 3,712 $ 4,380 $ 3,712 $ 4,826 $ 3,712 $ - (0 FTE) $ 105 (3 FTE) $ 109 (6 FTE) $ - (0 FTE) $ 345 (11FTE) $ 690 (22 FTE) $ - (0 FTE) $ 133 (26 FTE) $ 536 (52 FTE) 6. Transportation 7. Federal funding Title I Bilingual and immigrant Special education Other federal programs $ $ 23 238 $ $ 23 265 $ $ 23 292 $ $ $ $ 53 $ $ $ $ 102 2 47 53 $ $ $ $ 204 4 96 53 Total revenue $ 4,248 $ 5,455 $ 6,833 Facilities lease aid $ $ $ 1. Base funding per FTE 1.06 1.30 Middle Cost K-12 Charter School FTE WFTE a b 2. Limited-English proficiency 3. Special education b c 4. Compensatory education 5. Basic skills aid d 465 465 465 ASSUMPTIONS: Each school has 100 students. Basic elementary charter school enrolls only students who are not at risk and have no special needs. Middle cost K-12 charter school has the same student population characteristics as the average Minnesota district. At-risk upper grade charter school has twice the concentration of special education and at-risk students as the Minnesota average. a Base funding pays for about 40 percent of special education and LEP costs. Pension adjustment of $47 per weighted pupil has been subtracted from basic weighting allowance of $3,759. b State LEP, special education and compensatory aid calculations are described in the footnotes in the accompanying text. c Estimated at $513 per compensatory education pupil in middle cost school and $1,031 per pupil at upper grade school. d Transportation sparsity and transition revenue are estimated to be $53.46 per pupil. This calculation is based on data for the Skills for Tomorrow Charter School supplied by the Minnesota Department of Children, Families and Learning. Transportation funding does not include the value of services provided to low income families. Appendix 157 Venturesome Capital: State Charter School Finance Systems New Jersey Base Funding: Charter schools receive per-pupil funding based on revenue that would have been generated by charter school students in their districts of residence. The state calculates base funding adjusted for grade level differences based on a weighting formula. Revenue allotted to special education, transportation of district students (5.4 percent of spending), and transportation provided to private school students (1.4 percent of spending) is included in the base amount. Charter schools get 90 percent of this amount. The state commissioner of education can, however, increase the percentage. The commissioner has exercised this power in a handful of cases, e.g., for a charter school that offered full-day kindergarten. Grade Level Funding: Per-pupil base funding is multiplied by a weighting formula that counts elementary school students at 1.00,...
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