Venturesome Capital- State Charter School Finance Systems

The district is not responsible for any debt incurred

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: rd. The law is silent with respect to the ownership of property paid for with public funds. Teacher Retirement: Personnel certified in Illinois, including administrators, must participate in teacher retirement plans. Charter schools do not have to pay pension pickups in school district labor contracts (Chicago, for example, picks up 7 percent of the 8 percent employee contribution). Like school districts in Illinois, charter schools pay only the Medicare portion of Social Security for employees already participating in state retirement systems. Appendix 135 Venturesome Capital: State Charter School Finance Systems Basic Elementary Charter School FTE $/Member Illinois Total FTE enrollment 100 1. Tuition per FTE member 100 State Chapter 1 (low income) Total tuition 2. Special education 3. LEP/bilingual d Middle Cost K-12 Charter School FTE $/Member 100 a $ 4,900 na 100 Urban At-Risk Upper Grade FTE $/Member 100 b 100 $ 4,900 na 100 $ 4,900 $ 600 24 15 c $ 4,200 $ 767 0 f g 4. Other state categorical 5. Transportation 4. Federal funding Title I Special education Bilingual and immigrant Other federal programs Total revenue (100% funding) Without special education $ 4,900 $ - 0 e $ - $ 36 $ 68 $ 150 $ 150 $ 150 $ - $ - $ - $ $ $ $ 64 $ $ $ $ 161 52 6 64 $ $ $ $ 302 104 12 64 $ 5,969 $ 5,317 $ $ 6,867 5,563 $ 5,114 12 8 $ $ 4,967 1,200 ASSUMPTIONS: 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 characteristics as the average Illinois district. At-risk upper grade charter school is in Chicago with twice the concentration of special education students as the Illinois average, and all students qualify for state Chapter 1 (low income). ADA is assumed to average 95 percent in the basic and middle cost charter schools and 90 percent in the at-risk school. a Column represents a K-12 district with state average per capita tuition (elementary districts average a percapita tuition of about $5,500). b Column represents typical K-12 district. c Column represents funding for a typical charter school in Chicago. The highest per capita tuition in an Illinois high school district is $16,000. d Also called supplemental general state aid, the state low income weighting applies primarily to Chicago, where the low-income weighting is treated as a separate component of the tuition calculation for charter school funding. e Assumed that school districts either pay charter schools for the extra costs of special education or provide the services in-kind. The estimated value for the middle cost school is about 10 percent of the state average operating cost. In the at-risk school, the estimated value is about 20 percent of operating costs. f $423 per bilingual pupil when schools have more than 20 pupils needing a bilingual program. g Estimated state average of major categorical programs not otherwise listed in table. 136 Appendix Kansas Kansas School districts approve charter schools. The state board also approves each charter, which allows the board t...
View Full Document

This note was uploaded on 02/11/2013 for the course ECON 101 taught by Professor Smith during the Spring '09 term at Harvard.

Ask a homework question - tutors are online