charter application workshop january 13 and 14, 2011
TRANSCRIPT
Charter Application Workshop
January 13 and 14, 2011
Funding Resources
State – Base Funding/Categorical
Federal – IDEA, Title ILocal – Donations/Grants/Gifts
Base Funding – Local District
2008-2009 Audited Financial Statements Calculation
Total General Revenues $ 89,453,546FY 2008-2009 Weighted Pupil Units 13,577.24Per Pupil Amount $ 6,588.49
FY 2009-2010 Inflation Factor (0.00%) $ 0.00
FY 2010-2011 Inflation Factor (0.00%) $ 0.00
2010-11 Per Pupil Funding $ 6,588.49
The figure is now multiplied by the charter schools weighted per pupil figure
Base Funding – State District
Per Pupil (Base Student Cost)$1,630
Additional per pupil (proviso 1.3) $ 700
Total Per Pupil$2,330
EFA Weightings
Kindergarten 1.30Primary (1.3) 1.24Elementary (4-8) 1.00High School (9-12) 1.25TMH 2.04Speech 1.90Homebound 2.10EH 2.04
EMH 1.74LD 1.74Hearing 2.57Visual 2.57OH 2.04Vocational 1.29Autism 2.57
Examples
Average Daily Membership - # of days a child is enrolled in an EFA category
1. ADM of 112.57 in Elementary results in a WPU figure of 112.57
2. ADM of 25.89 in Speech results in a WPU figure of 49.19
3. ADM of 5.21 in LD results in a WPU figure of 9.07
Estimating Students
Be careful in estimates of students. Don’t over inflate student counts when completing your budget.Remember – you are adjusted at the 45th day of school and over-estimating initial student counts could result in a loss of funding
Why Charters Fail
Failure to plan properly before
opening!!!
Example Continued
Estimated Per Pupil $ 6,588.49Total Weighted Pupils 170.83Total Base Funding $1,125,511.75
Actual Students Enrolled
Estimated Per Pupil $ 6,588.49Total Weighted Pupils 85.43Total Base Funding $ 562,854.70
Resulting in a loss of $ 562,657.05!!!!!
Request for Estimate
Once you have determine who your sponsor LEA will be contact
me for estimate of per pupil – must be a part of your charter
application!!!!!
Categorical Funding
Additional State Funding the school may be entitled to
based on the programs they offer and the students they
serve
State Categorical Continued
Reading High Achieving
Students Vocational Professional
Development At Risk Student
Funding
Lottery Pre-school
Handicapped Education
License Plates
Documents to Help You
Categorical Funding Matrix
Funding Manual
Accounting Handbook
Audit Guide
Financial Concern
Failure to submit year-end audit as required by Charter Law and SC law.
Better to submit 2 and none! For report card purposes using 08-09
financial data, of the 30 schools open during that year, 5 or 17% failed to provide and audit to the SCDE
Don’t wait on your sponsor to do it
Questions
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