Venturesome Capital- State Charter School Finance Systems

The state also pays for 47 percent of the costs of

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Unformatted text preview: oney, which is a component of Basic Skills Revenue. To qualify, charter schools have to meet reporting requirements for basic skills expenditures. The basic revenue is $3,530 multiplied by a concentration percentage, which is then multiplied by the number of students qualifying for free or reduced-price lunch. Finally this amount is multiplied by .6.17 There also is a basic skills match of up to $22.50 in state aid per student. Categorical Funding: Charter schools are eligible to receive other aids, grants and revenue as though it were a school district. These include: Secondary Vocational Students with Disabilities revenue, Secondary Vocational revenue, Teacher Education Improvement grants, Teacher Mentorship grants, First Grade Preparedness (full-day kindergarten), 15 “Additional” cost is determined by subtracting the regular classroom cost of a student from the special education contract for the fraction of the school day that the student receives services. 16 The middle cost charter school in the following table is assumed to get $47 per pupil for material. The school also gets one-half of 68 percent of the estimated $30,000 salary of one FTE teacher (.5 x .68 x $30,000) or $10,200. This is $3,447 per LEP pupil. In addition there is concentration revenue. The concentration percentage of 3 (which is 100 x LEP/ADM) is divided by the constant 11.5 for a quotient of .261. This quotient is multiplied by the number of LEP students and the concentration revenue amount ($149 in 1998-99) yielding $117 dollars or $38.89 per LEP child. Since the at-risk school with six LEP students will have the same amount of staff as one with three LEP students, per-pupil funding drops. The $10,200 for staff equals only $1,700 per LEP pupil. Funding for materials adds $1,747 per pupil. There is slightly more concentration funding, however (6/11.5 x 6 x 149), coming to $467 in total concentration revenue, or $78 per pupil. Total additional funding is $1,825 per LEP pupil. 17 In the middle cost charter school in the following table, 26 students qualify for compensatory education (19 for free lunch and 7 for reduced-price lunch). The concentration percentage is 22.5 (100 percent of free lunch, plus 50 percent reduced lunch, divided by school enrollment and multiplied by 100). The pupil weighting factor is the concentration percentage divided by 80, or .281. This weighting is multiplied by the pupil count (22.5) and .6 for a total of 3.7969. This amount is then multiplied by $3,530. Total compensatory education funding is $13,403, or $513 for each of the 26 compensatory education students. Since compensatory education is based on a concentration formula, the per-pupil funding will be higher for a disadvantaged school. The concentration percentage for the at-risk charter school in the following table is .45. The pupil weighting factor is .5625. This amount is multiplied by the pupil count (45) and .6 for a total of 15.1875, which is then multiplied by $3,530. Total compensatory education funding is $53,6...
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