Resources
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Finance Overview
Category: Finance
California's charter schools are funded much like other non-charter California public schools, but generally at lower rates. They receive funding from a mix of local property taxes, state education aid programs, the California Lottery, federal education aid programs, fundraising, and other sources. They are prohibited from charging tuition, but may charge fees for certain items to the same extent as non-charter public schools. California's original charter...
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No-Budget Charter School Fiscal Update
Category: Finance
by Eric Premack, Charter Schools Development Center Posted on 08/25/2010 Though charter school funding rates remain unclear as the state budget stalemate continues for its 54th day, this article provides updates on a few key charter finance matters, including the following items: State officials pull early trigger on cash deferral Federal Jobs Bill and State Stabilization funds forthcoming—but amounts remain unknown August 31st application deadline for Charter School Facilities Grant Program Conference...
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Education Jobs Bill Funding Coming Soon?
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 08/12/2010 President Obama on Tuesday signed a new "Education Jobs Bill" into law that will provide modest amounts of funds to states in an attempt to reduce the loss of jobs in the state public education sector. Whether and how much California charter schools will receive is unknown, but may average around $200 per student, assuming California qualifies...
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Three-Way Arm Wrestling Between Governor, Senate, and Assembly over Key K-12 Funding Issue
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 06/07/2010 The Governor and both houses of the legislature each propose substantially different approaches to funding K-12 schools in the upcoming fiscal year. The differing legislative proposals should come to a head later this week as the legislature’s Budget Conference Committee meets to iron-out differences between the two houses’ proposals. Each takes different approaches on various key items, including both...
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Governor, Legislature Set Stage for Summer Budget Battle
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 05/28/2010 Democrats in the lower house of California's legislature countered the governor's May Revise budget with an eclectic mix of proposed borrowing, corporate tax loophole closures, and oil tax increases. Meanwhile, Democrats in the Senate have proposed $4.9 billion worth of tax increases or extensions that would partially close the estimated $19 billion state budget shortfall. Though many...
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Deadline Extended for Federally-Subsidized Qualified School Construction Bond (QSCB) Funds
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 05/25/2010 The California School Finance Authority extended the application deadline for the second, 2009 round of federally-subsidized Qualified School Construction Bond (QSCB) funds from May 27 to June 7. Last year's federal economic stimulus legislation authorized the QSCB program to provide tax subsidies to school agencies that have "shovel ready" facilities construction, rehab, and repair projects. California has...
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Governor's May Revise Proposes Static K-12 Funding
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 05/14/2010 SACRAMENTO -- Governor Schwarzenegger’s annual May Revision to his 2010-11 budget proposed cutting most state funding for child care, but few other changes for K-12 school funding. While there is no positive news in the governor’s proposals, the lack of additional proposed cuts provides a bit of relief in an otherwise hellish fiscal environment and stands in...
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State Board Denies Waivers for Cash-Strapped Charters
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 05/07/2010 As anticipated, the State Board of Education voted unanimously today to deny requests by dozens of charter schools seeking to waive deferrals of state aid. Recent legislation implemented a complex set of permanent and temporary deferrals of state aid in an effort to shore-up the state's weak cash position and make the state's budget appear more balanced. ...
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Additional State Deferrals Could Mean Cash Flow Hell
Category: Finance
by Eric Premack, Charter Schools Development Center. Posted on 04/09/2010 The State Treasurer, Director of Finance, and Controller jointly announced on March 31 that they will implement three additional cash flow deferrals for K-12 schools in the 2010-11 fiscal year. The three new deferrals come on top of a confusing array of recently-enacted permanent delays to the baseline schedule for state apportionments, several additional "one-time" deferrals, and...
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Governor’s Proposed 2010-11 Budget: Hold Harmless Or De-Facto Cut For Schools
Category: Finance
by Eric Premack, Charter Schools Development Center. Originally sent to CSDC members on 01/11/2010. Though Governor Schwarzenegger says his proposed budget for FY 2010-11 would “protect education,” CSDC’s analysis shows that whether the budget protects or cuts K-12 schools depends on what one assumes as the starting point. Relative to current law, CSDC’s analysis of the governor’s proposal shows that the governor uses creative accounting to substantially...
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