Charter Application Workshop January 13 and 14, 2011

Funding Resources State – Base Funding/Categorical Federal – IDEA, Title I Local – Donations/Grants/Gifts

Base Funding – Local District Audited Financial Statements Calculation Total General Revenues $ 89,453,546 FY Weighted Pupil Units 13, Per Pupil Amount$ 6, FY Inflation Factor (0.00%)$ 0.00 FY Inflation Factor (0.00%)$ Per Pupil Funding$ 6, 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 1.30 Primary (1.3) 1.24 Elementary(4-8) 1.00 High School (9-12) 1.25 TMH 2.04 Speech 1.90 Homebound 2.10 EH 2.04 EMH1.74 LD1.74 Hearing2.57 Visual2.57 OH2.04 Vocational1.29 Autism2.57

Examples Average Daily Membership - # of days a child is enrolled in an EFA category 1. ADM of in Elementary results in a WPU figure of ADM of in Speech results in a WPU figure of 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 45 th 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, Total Weighted Pupils Total Base Funding$1,125,511.75

Actual Students Enrolled Estimated Per Pupil $ 6, Total Weighted Pupils Total Base Funding$ 562, 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 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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