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Charter Application Workshop

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. 2008-2009 Audited Financial Statements Calculation

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Charter Application Workshop

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  1. Charter Application Workshop January 13 and 14, 2011

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

  3. Base Funding – Local District 2008-2009 Audited Financial Statements Calculation Total General Revenues $ 89,453,546 FY 2008-2009 Weighted Pupil Units 13,577.24 Per 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

  4. Base Funding – State District Per Pupil (Base Student Cost) $1,630 Additional per pupil (proviso 1.3) $ 700 Total Per Pupil $2,330

  5. 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 EMH 1.74 LD 1.74 Hearing 2.57 Visual 2.57 OH 2.04 Vocational 1.29 Autism 2.57 EFA Weightings

  6. 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

  7. 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 Estimating Students

  8. Why Charters Fail Failure to plan properly before opening!!!

  9. Example Continued Estimated Per Pupil $ 6,588.49 Total Weighted Pupils 170.83 Total Base Funding $1,125,511.75

  10. Actual Students Enrolled Estimated Per Pupil $ 6,588.49 Total Weighted Pupils 85.43 Total Base Funding $ 562,854.70 Resulting in a loss of $ 562,657.05!!!!!

  11. 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!!!!!

  12. Categorical Funding Additional State Funding the school may be entitled to based on the programs they offer and the students they serve

  13. Reading High Achieving Students Vocational Professional Development At Risk Student Funding Lottery Pre-school Handicapped Education License Plates State Categorical Continued

  14. Categorical Funding Matrix Funding Manual Accounting Handbook Audit Guide Documents to Help You

  15. 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

  16. Questions ???

  17. Contact Information Phone number 803-734-3605 E-mail Mjinnett@ed.sc.gov

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