Increases in available charter school funding and changes in lease aid may impact your charter school.
Lease aid for fiscal year 2014 and beyond has been impacted with the Minnesota Department of Education’s new requirement that charter schools include an “escape clause” in leases, both new and by amendment to existing leases. The intention of this change is to prevent landlords from participating in charter school close down funding allocations in the instance that a school is either terminated or does not receive renewal. There is concern within the commercial real estate community that this change may jeopardize charter schools’ entitlement to lease aid. There are currently efforts being made to reverse the decision to include this clause in charter school leases but at this time, the outcome is uncertain.
Finally, the Minnesota Department of Education has received approximately $20M in funds for dispersal to high-performing schools currently serving increased percentages of free and reduced lunch-eligible students. The application process for these grants is scheduled to begin as early as November 1st. Application forms can be accessed on MDE’s site.
We’ll continue to share additional information in support of Minnesota charter schools, charter school working capital financing and identify opportunities for charter school facilities funding.
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Month: October 2013
Effective charter funding solutions vary from school to school and from state to state. And while finding those solutions takes a dedication to education, it also means inspiring positive action by facing what are sometimes the unfortunate realities behind the lack of charter funding in a particular region: in this case, the United States.
According to a recent survey published by the National Alliance for Public Charter Schools (NAPCS) in June of 2013, the number of names on public charter school waitlists across the country has significantly increased during the 2012-13 school year. Whereas during 2011-12, the number of names on charter waitlists was an estimated 610,000, that number now approaches the one million mark at 920,007.
NAPCS also reported that 67% of public charter schools across the country reported having children on their waitlist with an average waitlist consisting of 214 students.
The cause behind the lengthy waitlists is parents’ growing demand for high quality public charter in America. Though the number of charter schools nationally is continuing to grow, the pace of funding seems inadequate to meet the burgeoning need. And while funding for older charter schools is still an ever-pressing reality for many charter schools, the charter funding market is becoming more and more competitive (as demonstrated by this data) with each additional charter school founded.
To learn more about what Charter School Capital is doing to help states address their need for improved (and increased) charter school education and charter funding, visit us today at https://charterschoolp.wpengine.com/.
To Test or Not to Test: That is The Question
Last week, California Governor Jerry Brown signed bill AB 484 brought forth by Assemblywoman Susan Bonilla. AB 484 would essentially end standardized testing as it currently exists in California. The measure could potentially eliminate Academic Performance Index (API) scores and current assessments for the next two years with an option for the State Board of Education to extend the measure to three years. This would occur as the State Board of Education (SBE) and California Department of Education (CDE) begin creating new assessments and performance standards that include the new common core standards.
AB 484 would also provide Local Educational Agencies (LEAs) the opportunity to administer only one of the two common tests (language arts or math); both tests would not need to be administered until the new assessments are created. During this two to three year period, no new API scores will be generated so schools will either use their most recent API score or the average of their last three API scores, whichever is higher. At this time, the potential impact this may have on charter schools facing renewal or revocation is unknown. Additionally, it is unclear how the provisions of AB 484 will work with the school accountability measures that are part of the new Local Control Funding Formula.
This proposal created a firestorm in the Capitol during the last days of the legislative session and forced a response from Arnie Duncan, the US Secretary of Education. Mr. Duncan threatened the state’s future federal funding (and any waivers that the state is seeking from the Federal Government) and expressed anger at the language in AB 484, though he later retracted some of his comments.
It remains to be seen what the ramifications to California charter schools will be as a result of the signing of this new bill. Charter School Capital will continue to provide updates on this policy change in the state of California.
Be sure to register for our blog to receive future updates. To view AB 484 visit www.leginfo.ca.gov and enter in bill number AB 484 when prompted.