Common use of State and Local Funds Clause in Contracts

State and Local Funds. The Authorizer shall allocate one hundred percent (100%) of state and local Basic Education Program (BEP) funds to the Charter School on a per pupil expenditure as provided in T.C.A. § 00-00-000 and as calculated by the formula provided by the Tennessee Department of Education. The Authorizer shall allocate funds to the Charter School after each of the ten (10) attendance-reporting intervals. The Authorizer shall allocate and distribute one-tenth of state and local funds to the Charter School by the 15th of the month in August, September, October, November, December, January, February, March, April, and June. Each state and local payment from October through April and the final payment in June is contingent on the Charter School’s reporting of the Charter School’s Average Daily Membership (ADM) in the Tennessee Department of Education’s Education Information System (EIS). Each payment starting in October will be reconciled to the reported ADM for the period before being released. The final (tenth) payment will not be released until the year’s ADMs have been reconciled. If the Charter School is adding a new grade in accordance with the Charter School’s Application and this Agreement, the Charter School shall be funded based on anticipated enrollment in this Agreement, as submitted to the Authorizer for initial budgeting purposes no later than March 15 of each year. Initial payments will be based on this anticipated enrollment, which must be agreed upon by the Authorizer and the Charter School and reflected in the Charter School’s approved budget for the upcoming fiscal year by June 1 of each year. Upon completion of the grade expansion period, the Charter School’s state and local funds will be allocated based on the prior year’s ADM in the Tennessee Department of Education’s EIS system, and consistent with T.C.A. § 49-3-351.

State and Local Funds. The Authorizer Chartering Authority shall allocate one hundred percent (100%) of state and local Basic Education Program (BEP) funds to the Charter School on a per pupil expenditure as provided in T.C.A. § 00-00-000 and as calculated by the formula provided by the Tennessee Department of EducationTDOE. The Authorizer Chartering Authority shall allocate funds to the Charter School after each of the ten (10) attendance-reporting intervals. The Authorizer Chartering Authority shall allocate and distribute one-tenth of state and local funds to the Charter School by the 15th of the month in August, September, October, November, December, January, February, March, April, and June. Each state and local payment from October through April and the final payment in June is contingent on the Charter School’s reporting of the Charter School’s Average Daily Membership (ADM) in the Tennessee Department of EducationTDOE’s Education Information System (EIS). Each payment starting in October will be reconciled to the reported ADM for the period before being released. The final (tenth) payment will not be released until the year’s ADMs have been reconciled. If the Charter School is adding a new grade in accordance with the Charter School’s Application and this Agreement, the Charter School shall be funded based on anticipated enrollment in this Agreement, as submitted to the Authorizer Chartering Authority for initial budgeting purposes no later than March 15 of each year. Initial payments will be based on this anticipated enrollment, which must be agreed upon by the Authorizer Chartering Authority and the Charter School and reflected in the Charter School’s Board of Directors-approved budget for the upcoming fiscal year by June 1 of each year. Upon completion of the grade expansion period, the Charter School’s state and local funds will be allocated based on the prior year’s ADM in the Tennessee Department of EducationTDOE’s EIS system, and consistent with T.C.A. § 49-3-351.

State and Local Funds. The Authorizer Chartering Authority shall allocate one hundred percent (100%) of state and local Basic Education Program (BEP) funds to the Charter School on a per pupil expenditure as provided in T.C.A. § 00-00-000 and as calculated by the formula provided by the Tennessee Department of Education. The Authorizer Chartering Authority shall allocate funds to the Charter School after each of the ten (10) attendance-reporting intervals. The Authorizer Chartering Authority shall allocate and distribute one-tenth of state and local funds to the Charter School by the 15th of the month in August, September, October, November, December, January, February, March, April, and June. Each state and local payment from October through April and the final payment in June is contingent on the Charter School’s reporting of the Charter School’s Average Daily Membership (ADM) in the Tennessee Department of Education’s Education Information System (EIS). Each payment starting in October will be reconciled to the reported ADM for the period before being released. The final (tenth) payment will not be released until the year’s ADMs have been reconciled. If the Charter School is adding a new grade in accordance with the Charter School’s Application and this Agreement, the Charter School shall be funded based on anticipated enrollment in this Agreement, as submitted to the Authorizer Chartering Authority for initial budgeting purposes no later than March February 15 of each year. Initial payments will be based on this anticipated enrollment, which must be agreed upon by the Authorizer Chartering Authority and the Charter School and reflected in the Charter School’s approved budget for the upcoming fiscal year by June 1 of each year. Upon completion of the grade expansion period, the Charter School’s state and local funds will be allocated based on the prior year’s ADM in the Tennessee Department of Education’s EIS system, and consistent with T.C.A. § 49-3-351.