B. ALLOCATION PROPOSAL
GENERAL FUND ALLOCATIONS ARE TENTATIVE. THE AMOUNTS ALLOCATED MAY BE REDUCED BY EXECUTIVE RESTRICTIONS AND/OR INTERNAL REDUCTIONS.
NEW CENTURY SCHOOLS, 15137
1. Purpose
To provide funding to the New Century Public Charter Schools as required by Act 41/04
2. Rationale for Allocation
For FY 2004 - 2005, the Legislature determined that the allocation of state general funds to charter schools should be based on "1) the actual and projected enrollment figures in the current school year for each charter school; and 2) a per pupil amount for each regular education and special education student".
Furthermore, Sections 42.2 and 42.3 of Act 41 Session Laws of Hawaii 2004 authorize the transfer of moneys from the Charter Schools to the Department of Budget and Finance to cover the Charter School's share of health fund premiums, pension accumulation, and social security/medicare costs. This amount has been calculated and totals $5,487,847, which will be withheld from the charter schools' allocations at the rate of $1,110 per pupil.
The Board of Education authorized a per pupil allocation of $5,736 per student (excluding special ed and federal funds such as impact aid). An Adjusted Base Per Pupil Allocation of $4,626 ($5,736 less $1,110) will be distributed in accordance with the HRS 302A-1185 as follows: fifty percent of a new century charter school's per pupil allocation based on the new century charter school's projected student enrollment no later than July 20.
This allocation of $25,886,070 distributes the initial 50% of the per pupil amount of $4,626 times the projected student enrollment for each charter school, and retains all remaining funds in Charter School Administration Office (CSAO) Organization ID 734000 for future disbursement according to statute.
3. Guidelines for Implementation
As statutorily mandated, the Public Charter School's Local School Boards are responsible for all expenditures.
Allocations approved by Dewey Kim, Executive Director of Charter Schools.
4. Allocation of Resources
| Report Required: Yes | Report Due Date: |
