State Budget Update
Independent Charter School Budget Update
The Joint Committee on Finance (JFC) has completed their work on the state budget today. Here are the items and the preliminary impact on funding for 2x/2r charter schools. We will have a comprehensive list out early next week after the bill is voted on by both houses of the legislature. Both the Senate and Assembly will be voting tomorrow to advance the budget as passed by the JFC today.
Base Funding Increased. Independent Charter Schools have their base funding increase by combination of funding items for public schools. Below is a list of items that impact that base funding calculation.
Revenue Limit Adjustment. In the prior budget the governor used his veto pen to extend a $325 RevenueLimit increase for 400 years.Therefore, the charter base will also increase by $325 in each year of the biennium.
Categorical Aid Increases that Charters have access to:
-Special Ed Reimbursement- Increase from 32% to 42% in year one and 45% in year two.
-High-Cost Special Ed Reimbursement -Increase to 50% in year one and 90% in year two.
-Mental Health -$50 million increase front loaded to year one.
Numerous other Categorical Aids for Public Schools
These categorical aid increases produce an additional $309 in year one and $103 in year two to the Charter base funding amount.
This would give us a “preliminary”adjustment of:
Year Revenue Limit Increase Categorical Increase Per Pupil
2024-25 $11,729
2025-26 $325 $309 $12,363
2026-27* $650 $412 $12,791
- *Funding increases compared to 2024-25, not 2025-26.