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• Funding follows students based on district of residence.
• State deducts 5 percent from the formula and gives that money to the
school district as impact aid.
• The new weighted student formula, which will begin in 2011-12 will give
charters more equitable funding. Charter schools will be funded using the
same proposed funding formula for conventional schools. Local monies
will come direct from the district.
• Funds pass through the district and state.
"It is the intent of the general assembly that funding pursuant to this chapter shall be neither a financial incentive nor a financial disincentive to the establishment of a charter school. Funding for each charter public school shall consist of state revenue and municipal or district revenue in the same proportions that funding is provided for other schools within the school district in which the charter public school is located. (b) The amount of funding which shall be allocated to the charter public school by the school district shall be equal to a percentage of the total budgeted expenses of the district which is determined by dividing the number of students enrolled in the charter public school by the total resident average daily number of students in the school district." [§ RI 16-77-6] |