§ 115C-238.29H. State and local funds for a charter school. - North Carolina Statutes

§ 115C‑238.29H.  Stateand local funds for a charter school.

(a)        The State Board ofEducation shall allocate to each charter school:

(1)        An amount equal tothe average per pupil allocation for average daily membership from the localschool administrative unit allotments in which the charter school is locatedfor each child attending the charter school except for the allocation forchildren with disabilities and for the allocation for children with limitedEnglish proficiency;

(2)        An additional amountfor each child attending the charter school who is a child with disabilities;and

(3)        An additional amountfor children with limited English proficiency attending the charter school,based on a formula adopted by the State Board.

In accordance with G.S. 115C‑238.29D(d),the State Board shall allow for annual adjustments to the amount allocated to acharter school based on its enrollment growth in school years subsequent to theinitial year of operation.

In the event a child withdisabilities leaves the charter school and enrolls in a public school duringthe first 60 school days in the school year, the charter school shall return apro rata amount of funds allocated for that child to the State Board, and theState Board shall reallocate those funds to the local school administrativeunit in which the public school is located. In the event a child withdisabilities enrolls in a charter school during the first 60 school days in theschool year, the State Board shall allocate to the charter school the pro rataamount of additional funds for children with disabilities.

(a1)      Funds allocated bythe State Board of Education may be used to enter into operational andfinancing leases for real property or mobile classroom units for use as schoolfacilities for charter schools and may be used for payments on loans made tocharter schools for facilities or equipment. However, State funds shall not beused to obtain any other interest in real property or mobile classroom units.No indebtedness of any kind incurred or created by the charter school shallconstitute an indebtedness of the State or its political subdivisions, and noindebtedness of the charter school shall involve or be secured by the faith,credit, or taxing power of the State or its political subdivisions. Every contractor lease into which a charter school enters shall include the previoussentence. The school also may own land and buildings it obtains through non‑Statesources.

(b)        If a studentattends a charter school, the local school administrative unit in which thechild resides shall transfer to the charter school an amount equal to the perpupil local current expense appropriation to the local school administrativeunit for the fiscal year. The amount transferred under this subsection thatconsists of revenue derived from supplemental taxes shall be transferred onlyto a charter school located in the tax district for which these taxes arelevied and in which the student resides. (1995 (Reg. Sess., 1996), c. 731, s. 2; 1997‑430,s. 7; 1998‑212, s. 9.20(f); 2003‑423, s. 3.1; 2006‑69, s.3(f).)