Venturesome Capital- State Charter School Finance Systems

The at risk school uses base funding for newark a

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Unformatted text preview: multiplier applied after the basic weighting calculation. In 1998-99, charter schools were authorized and funded by school districts. The state requires that its basic funding formula amount be given to the charter school on a per-pupil basis. Districts can then add additional funds. Grade Level Weights: At the elementary level, grade level weights range from 1.20 in first grade to 1.05 in grades 4 to 6. Middle and high school students are weighted at 1.25. School and District Size Factors: New Mexico has a complicated system of size adjustments that should provide more funding to charter schools in small school districts. In the average district, these adjustments account for about 12 percent of school district revenue. The size adjustment recognizes only diseconomies of small scale and not the high costs of urban education, so Albuquerque gets no extra funding. Training and Experience Factor: An adjustment for the higher costs faced by school districts with a better trained and more experienced staff averages about 9 percent of revenue. Special Education Revenue: Nearly one in five students qualifies for special education services. Weights based on the intensity of services drive special education funding. A separate component of funding, related services, adds 14 percent to base funding in the average school district. Overall, special education funding averages well over $1,000 per student. The “add-on” weighting for Type A and B students is 0.7. The weighting for Type C students is 1.0, and the weighting for Type D students is 2.0. Gifted and Talented: Gifted and talented children receive funding as class B and C special education students. Appendix 161 Venturesome Capital: State Charter School Finance Systems Limited-English Proficiency: The additional weighting in the formula is 0.5, and about 5 percent of students qualify. Low-Income or Compensatory Education: The formula has an at-risk index that generates about 8 percent of revenues in the average school district. The index for Albuquerque adds 16 percent to funding. Since the funding is not directed at specific schools or students, charter schools should benefit from this source of funding regardless of the exact number of at-risk students enrolled. Categorical Funding: Charter schools are entitled to their fair share of categorical funding. The main categorical program is Instructional Materials, amounting to $46 per pupil in 1998-99. Transportation: Transportation arrangements are negotiated. In Albuquerque, the school district provides transportation to charter schools on the same basis as any other school. State Start-Up Assistance: None. Capital Outlay and Facilities Financing: Facilities issues are negotiated between the district and charter school. In Albuquerque, charter schools have some access to locally raised capital funding for maintenance and repairs. Timing of Payments: Charter schools receive funds on the same basis as other schools in the district. Uniform Financial Reporting: The reporting requirements are...
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