Thanks to the advocacy efforts of the Georgia Charter Schools Association and its member schools, Georgia charter schools will see a major increase in facilities funding and locally-approved charter schools will receive a dedicated funding weight under the state’s K-12 educational formula this year. Both items are included in the state’s FY23 budget, which was signed by Gov. Brian Kemp on Thursday, May 12, at the University of North Georgia’s Blue Ridge campus.
Georgia’s Public Charter Schools Receive 50 Percent Increase in Facilities Funding
Georgia charter schools will see a significant increase in facilities funding in the upcoming fiscal year. The state’s FY23 budget includes the addition of $3 million new dollars to the Charter School Facility Grant fund. This brings the grant fund total up to $7.5 million—which is enough to provide all eligible charter schools a grant award of $75,000 per year to help offset facility costs. This represents a $25,000, or 50 percent increase, over last year’s individual school grant awards.
Dedicated Funding Weight Established for Locally-Approved Schools
Charter schools that are authorized by local school districts will receive additional funding in the upcoming fiscal year as a result of legislation that was passed by state lawmakers last year. Under Senate Bill 59, locally-approved charters will receive a dedicated funding weight of 3.785% of the QBE base. That amounts to approximately $106 per student and more $3.3 million dollars in new state funding for locally-approved charter schools.