The Indiana State Board of Education has approved nearly $40 million in funding for 33 charter schools through a program approved by the General Assembly. The initiative gives access to funding for building, technology and other improvements for charter schools, which do not receive local property tax revenues for those projects.
The board says traditional public schools receive about $3,000 per student per year in local revenue for capital and transportation projects as well as debt payment. The two-year state budget sets aside up to $50 million for the Common School Fund. The board of education authorized up to $40 million to be awarded this year.
Schools must receive an A-C school accountability grade, primarily serve students with special needs, be located in an innovation network or be in their first or second year of operation to qualify for the funding. Charters with D or F grades qualify if the closest comparable traditional public school has an equal or lower grade.
The board says the schools requested a median of $6,191.07 per pupil, which totaled $77.1 million. The funding will support more than 10,000 students throughout the state.
You can find a link to the list of schools and funding totals by clicking here.