RI Charter School Funding Formula

Funding Formula Basic Information

• The funding formula is based on the sending district per pupil amount and the sending district share ratio (the percent of state reimbursement used under the old operations aid program).
• The state pays 5 percent of the per pupil amount to the sending district and a share of the rest of the per pupil to the charter school.
• The state share of the per pupil amount is based on the sending district share ratio; therefore, the state picks up a larger piece for poorer districts.
• The local district pays whatever part of the per pupil is not paid by the state.
• The local district still claims student for all aid programs.

Examples

District A

Per Pupil: $7,000
Share Ratio: 70%

State Share to Sending District = $350 (5% of 7,000)

State Share to Charter School = 70% of $6,650 ($7,000 minus $350) which equals $4,655

Local Share to Charter School = $1,995 ($6,650 minus $4,655)

District B

Per Pupil: $8,000
Share Ratio: 20%

State Share to Sending District = $ 400 (5% of $8,000)

State Share to Charter School = 20% of $7,600 ($8,000 minus $ 400) which equals $1,520

Local Share to Charter School = $6,080 ($7,650 minus $ 1,520)

• Each district gets 5 percent for each student sent.
• Each charter gets the total of the state share for each pupil enrolled.
• Provisions are made for mid-year corrections if shifts bigger than 10 percent occur.
• Payment to charters are made quarterly.
• Charters are free to negotiate additional support with sending districts (this is the state operational funding steam).
• No extra provisions are made for special needs.