IBO REPORT: NYC Charter School Costs To Grow More Than Budgeted!
New York City Charter School Costs To Grow More Than Budgeted!
Although the preliminary budget forecast of charter school enrollment is lower than projected by IBO, the Department of Education's (DOE) budget for charter school tuition in 2018 represents a $138 million increase over the current year's figure.
This increase reflects not only enrollment growth, but an anticipated increase in the state-approved per-pupil tuition rate for charter schools. It is likely that the per-pupil tuition rate for charter school students will continue to rise in coming years as the formula driven amount catches up to recent increases in per-pupil spending at the DOE. IBO estimates that once the state updates the formula for determining charter school funding for next school year, the additional cost to the city may range from $159 million to $220 million.
The city may also lose an expected state reimbursement of $52 million for 2016-2017 costs.