We know there are many myths surrounding the operation of charter schools, which is why we like to periodically set the record straight with our FAQ blog posts.
Do charter schools take funding away from traditional schools?
No. Public funding follows a student to whichever school they attend. Funding is provided to the school that is responsible for educating that particular student. If a student chooses to leave one traditional public school for another traditional public school, funding goes to the new school. The same is true if a student chooses to leave a charter school to attend a traditional school or leaves a traditional school for a charter school.
But did you know that if a student leaves a traditional public school for a charter school, only a percentage of that student’s funding goes to the charter school. Across the country, charter schools receive an average of 30 percent less per pupil per year in funding than neighboring traditional schools. We believe equal resources should be directed to effective charter schools that will challenge students and prepare them for the future.
Charter schools are held accountable and are required to be financially transparent by state law. Charter schools have another level of financial oversight beyond traditional schools because they are accountable to their authorizers. Charter school authorizers are required to approve and renew only those charter schools that have demonstrated they can improve student performance in a fiscally and organizationally sound manner. Authorizers ensure that taxpayer dollars are well spent by requiring schools to perform well or close.
Charter school funding can also come in the form of federal grants, fundraising and other charitable contributions. If you have questions surrounding funding, how to receive it, how to manage it, and how to operate the best charter school, give Charter CFO a call.