Venturesome Capital- State Charter School Finance Systems

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Unformatted text preview: ization formula that depends on the number of pupils in their schools (including charter schools), tax effort and the wealth of the district. Districts distribute money to charter schools; the amounts vary from district to district. Grade Level Funding: None. Special Education: Special education funding follows students according to normal district budgetary procedures. Charter schools providing special education services negotiate for their share of special education funding or receive services in kind from the district. The state reimburses districts for about 40 percent of prior year costs for educating and transporting pupils enrolled in special education. The local special education costs that are not reimbursed through state aid are financed by general operating funds (financed in part by state aid from the general aid formula). Limited-English Proficiency: Charter schools are eligible to receive bilingual education funding if they provide services to LEP students. The state reimburses school districts for 63 percent of costs (subject to sufficient state appropriations). Charter schools negotiate for the funding or receive it in kind from the district. Funding for 1997-98 averages approximately $10 per enrolled pupil (not pupils served). Appendix 181 Venturesome Capital: State Charter School Finance Systems Compensatory Education: Charter schools are eligible to receive compensatory education grants for grades K-5. Grants are awarded on a competitive basis to schools based on high numbers of dropouts and low-income students. The funding for 1997-98 averaged $8 per member (not students served). At-Risk Students: Charter schools qualify for funds equal to approximately 10 percent of shared costs if they educate children meeting one of several definitions for at-risk children. In 1997-98, funding for at-risk students was approximately $4 per member (not students served). Transportation: State law requires districts to provide transportation services to charter schools. The state pays a flat amount per transported pupil based on the distance traveled ranging from $12 (hazardous, under two miles) to $85 (over 18 miles). On average, state aid pays for about 15 percent of transportation, or $20 per member. The other 85 percent of transportation costs are financed from general operating funds. Capital Outlay and Facilities Funding: Facilities are arranged through the school district. Most charter schools are conversion schools. State Start-Up Assistance: No state start-up funding is available. Timing of Payments: Charter schools payments are made on the same schedule as other schools in the district. Uniform Financial Reporting: Blended with school district. Auditing Practice: Independent financial audits are blended with school district audits unless otherwise specified in the charter. The Joint Legislative Audit Committee may direct the Legislative Audit Bureau to perform a financial and performance evaluation of the charter school.23 Teacher Retirement: Charter schools that are instrumen...
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This note was uploaded on 02/11/2013 for the course ECON 101 taught by Professor Smith during the Spring '09 term at Harvard.

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