|
|
|
IC 20-24-7-1
Organizer as fiscal agent
Sec. 1. (a) The organizer is the fiscal agent for the charter school.
(b) The organizer has exclusive control of:
(1) funds received by the charter school; and
(2) financial matters of the charter school.
(c) The organizer shall maintain separate accountings of all funds
received and disbursed by the charter school.
As added by P.L.1-2005, SEC.8.
IC 20-24-7-2
Charter school student information; distribution of state funds;
calculation of share of local funds
Sec. 2. (a) Not later than the date established by the department
for determining ADM, and after May 31 each year, the organizer
shall submit to the department the following information on a form
prescribed by the department:
(1) The number of students enrolled in the charter school.
(2) The name and address of each student.
(3) The name of the school corporation in which the student has
legal settlement.
(4) The name of the school corporation, if any, that the student
attended during the immediately preceding school year.
(5) The grade level in which the student will enroll in the
charter school.
The department shall verify the accuracy of the information reported.
(b) This subsection applies after December 31 of the calendar year
in which a charter school begins its initial operation. The department
shall distribute to the organizer the state tuition support distribution.
The department shall make a distribution under this subsection at the
same time and in the same manner as the department makes a
distribution of state tuition support under IC 20-43-2 to other school
corporations.
(c) The department shall provide to the department of local
government finance the following information:
(1) For each county, the number of students who:
(A) have legal settlement in the county; and
(B) attend a charter school.
(2) The school corporation in which each student described in
subdivision (1) has legal settlement.
(3) The charter school that a student described in subdivision
(1) attends and the county in which the charter school is
located.
(4) The amount of the tuition support levy determined under
IC 20-45-3-11 for each school corporation described in
subdivision (2).
(5) The amount determined under STEP TWO of the following
formula:
STEP ONE: Determine the product of:
(A) the target revenue per ADM (as defined in
IC 20-43-1-26) determined for a charter school described
in subdivision (3); multiplied by
(B) thirty-five hundredths (0.35).
STEP TWO: Determine the product of:
(A) the STEP ONE amount; multiplied by
(B) the current ADM of a charter school described in
subdivision (3).
(6) The amount determined under STEP THREE of the
following formula:
STEP ONE: Determine the number of students described in
subdivision (1) who:
(A) attend the same charter school; and
(B) have legal settlement in the same school corporation
located in the county.
STEP TWO: Determine the subdivision (5) STEP ONE
amount for a charter school described in STEP ONE (A).
STEP THREE: Determine the product of:
(A) the STEP ONE amount; multiplied by
(B) the STEP TWO amount.
As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.106.
IC 20-24-7-3
Calculation and distribution of state and local funds to conversion
charter school; advance from charter school advancement account
Sec. 3. (a) This section applies to a conversion charter school.
(b) Not later than the date established by the department for
determining ADM and after July 2, the organizer shall submit to a
governing body on a form prescribed by the department the
information reported under section 2(a) of this chapter for each
student who:
(1) is enrolled in the organizer's conversion charter school; and
(2) has legal settlement in the governing body's school
corporation.
(c) Beginning not more than sixty (60) days after the department
receives the information reported under section 2(a) of this chapter,
the department shall distribute to the organizer:
(1) tuition support and other state funding for any purpose for
students enrolled in the conversion charter school;
(2) a proportionate share of state and federal funds received:
(A) for students with disabilities; or
(B) staff services for students with disabilities;
enrolled in the conversion charter school; and
(3) a proportionate share of funds received under federal or
state categorical aid programs for students who are eligible for
the federal or state categorical aid and are enrolled in the
conversion charter school;
for the second six (6) months of the calendar year in which the
conversion charter school is established. The department shall make
a distribution under this subsection at the same time and in the same
manner as the department makes a distribution to the governing body
of the school corporation in which the conversion charter school is
located. A distribution to the governing body of the school
corporation in which the conversion charter school is located is
reduced by the amount distributed to the conversion charter school.
This subsection does not apply to a conversion charter school after
December 31 of the calendar year in which the conversion charter
school is established.
(d) This subsection applies beginning with the first property tax
distribution described in IC 6-1.1-27-1 to the governing body of the
school corporation in which a conversion charter school is located
after the governing body receives the information reported under
subsection (b). Not more than ten (10) days after the governing body
receives a property tax distribution described in IC 6-1.1-27-1, the
governing body shall distribute to the conversion charter school the
amount determined under STEP THREE of the following formula:
STEP ONE: Determine the quotient of:
(A) the number of students who:
(i) are enrolled in the conversion charter school; and
(ii) were counted in the ADM of the previous year for the
school corporation in which the conversion charter school
is located; divided by
(B) the current ADM of the school corporation in which the
conversion charter school is located.
In determining the number of students enrolled under clause
(A)(i), each kindergarten student shall be counted as one-half
(1/2) student.
STEP TWO: Determine the total amount of the following
revenues to which the school corporation in which the
conversion charter school is located is entitled for the second
six (6) months of the calendar year in which the conversion
charter school is established:
(A) Revenues obtained by the school corporation's:
(i) general fund property tax levy; and
(ii) excise tax revenue (as defined in IC 20-43-1-12).
(B) The school corporation's certified distribution of county
adjusted gross income tax revenue under IC 6-3.5-1.1 that is
to be used as property tax replacement credits.
STEP THREE: Determine the product of:
(A) the STEP ONE amount; multiplied by
(B) the STEP TWO amount.
(e) Subsection (d) does not apply to a conversion charter school
after the later of the following dates:
(1) December 31 of the calendar year in which the conversion
charter school is established.
(2) Ten (10) days after the date on which the governing body of
the school corporation in which the conversion charter school
is located receives the final distribution described in
IC 6-1.1-27-1 of revenues to which the school corporation in
which the conversion charter school is located is entitled for the
second six (6) months of the calendar year in which the
conversion charter school is established.
(f) This subsection applies during the second six (6) months of the
calendar year in which a conversion charter school is established. A
conversion charter school may apply for an advance from the charter
school advancement account under IC 20-49-7 in the amount
determined under STEP FOUR of the following formula:
STEP ONE: Determine the result under subsection (d) STEP
ONE (A).
STEP TWO: Determine the difference between:
(A) the conversion charter school's current ADM; minus
(B) the STEP ONE amount.
STEP THREE: Determine the quotient of:
(A) the STEP TWO amount; divided by
(B) the conversion charter school's current ADM.
STEP FOUR: Determine the product of:
(A) the STEP THREE amount; multiplied by
(B) the quotient of:
(i) the subsection (d) STEP TWO amount; divided by
(ii) two (2).
As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.107.
IC 20-24-7-4
Costs of services provided by school corporation; administrative
fee for state educational institution serving as sponsor
Sec. 4. (a) Services that a school corporation provides to a charter
school, including transportation, may be provided at not more than
one hundred three percent (103%) of the actual cost of the services.
(b) This subsection applies to a sponsor that is a state educational
institution described in IC 20-24-1-7(2). In a calendar year, a state
educational institution may receive from the organizer of a charter
school sponsored by the state educational institution an
administrative fee equal to not more than three percent (3%) of the
total amount the organizer receives during the calendar year:
(1) under section 12 of this chapter; and
(2) from basic tuition support (as defined in IC 20-43-1-8).
As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.108.
IC 20-24-7-5
Grants and private and federal funds
Sec. 5. (a) An organizer may apply for and accept for a charter
school:
(1) independent financial grants; and
(2) funds from public or private sources other than the
department.
(b) An organizer shall make all applications, enter into all
contracts, and sign all documents necessary for the receipt by a
charter school of aid, money, or property from the federal
government.
As added by P.L.1-2005, SEC.8.
IC 20-24-7-6
Distribution of share of school corporation's capital project fund
Sec. 6. With the approval of a majority of the members of the
governing body, a school corporation may distribute a proportionate
share of the school corporation's capital project fund to a charter
school.
As added by P.L.1-2005, SEC.8.
IC 20-24-7-7
Building projects; applicability of bidding and wage determination
laws
Sec. 7. When a charter school uses public funds for the
construction, reconstruction, alteration, or renovation of a public
building, bidding and wage determination laws and all other statutes
and rules apply.
As added by P.L.1-2005, SEC.8.
IC 20-24-7-8
Sponsor's right to receive financial reports from organizer
Sec. 8. A sponsor may request and receive financial reports
concerning a charter school from the organizer at any time.
As added by P.L.1-2005, SEC.8.
IC 20-24-7-9
Termination of charter; distribution of funds; repayment of
obligations
Sec. 9. (a) This section applies if:
(1) a sponsor:
(A) revokes a charter before the end of the term for which
the charter is granted; or
(B) does not renew a charter; or
(2) a charter school otherwise terminates its charter before the
end of the term for which the charter is granted.
(b) Any local or state funds that remain to be distributed to the
charter school in the calendar year in which an event described in
subsection (a) occurs shall be distributed as follows:
(1) First, to the common school loan fund to repay any existing
obligations of the charter school under IC 20-49-7.
(2) Second, to the entities that distributed the funds to the
charter school. A distribution under this subdivision shall be on
a pro rata basis.
(c) If the funds described in subsection (b) are insufficient to
repay all existing obligations of the charter school under IC 20-49-7,
the state shall repay any remaining obligations of the charter school
under IC 20-49-7 from the amount appropriated for state tuition
support distributions.
As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.109.
IC 20-24-7-11 Version a
Department to pursue new federal funding
Note: This version of section added by P.L.169-2005, SEC.15. See
also following version of this section added by P.L.246-2005,
SEC.129.
Sec. 11. (a) If the United States Department of Education
approves a new competition for states to receive matching funds for
charter school facilities, the department shall pursue this federal
funding.
(b) The department shall use the common school fund interest
balance to provide state matching funds for the federal funding
described in subsection (a) for the benefit of charter schools.
(c) The department shall develop guidelines and the state board
shall adopt rules under IC 4-22-2 necessary to implement this
section.
As added by P.L.169-2005, SEC.15.
IC 20-24-7-11 Version b
Matching funds for federal grants to charter schools
Note: This version of section added by P.L.246-2005, SEC.129.
See also preceding version of this section added by P.L.169-2005,
SEC.15.
Sec. 11. (a) If the United States Department of Education
approves a new competition for states to receive matching funds for
charter school facilities, the department shall pursue this federal
funding.
(b) There is appropriated to the department of education ten
million dollars ($10,000,000) from the common school fund interest
balance in the state general fund to provide state matching funds for
the federal funding described in subsection (a) for the benefit of
charter schools, beginning July 1, 2005, and ending June 30, 2007.
(c) The department shall develop guidelines and the state board
shall adopt rules under IC 4-22-2 necessary to implement this
section.
As added by P.L.246-2005, SEC.129.
IC 20-24-7-12
Distribution of property taxes
Sec. 12. (a) Not later than the date on which the department of
local government finance certifies a final action under
IC 6-1.1-17-16, the department of local government finance shall
provide to each county auditor the amount determined under section
2(c)(6) of this chapter for each charter school attended by a student
who has legal settlement in both the county and a school corporation
located in the county.
(b) At the same time a county auditor distributes property taxes to
a school corporation, the county auditor shall distribute to a charter
school the amount described in subsection (a) for the charter school.
(c) A distribution of property taxes to a school corporation does
not include an amount distributed under subsection (b).
As added by P.L.2-2006, SEC.110.