thereafter , a charter school entity shall not accumulate an
unassigned fund balance greater than the charter school entity
unassigned fund balance limit, which will be determined as
follows:
Charter School Entity
Total Budgeted Expenditures
Maximum Unassigned Fund
Balance as Percentage of
Total Budgeted Expenditures
Less than or equal to $11,999,999 12%
Between $12,000,000 and $12,999,999 11.5%
Between $13,000,000 and $13,999,999 11%
Between $14,000,000 and $14,999,999 10.5%
Between $15,000,000 and $15,999,999 10%
Between $16,000,000 and $16,999,999 9.5%
Between $17,000,000 and $17,999,999 9%
Between $18,000,000 and $18,999,999 8.5%
Greater than or equal to $19,000,000 8%
(2) For the 2018-2019 school year and each school year
thereafter , any unassigned fund balance in place on June 30,
2019, and on June 30 of each year thereafter in excess of the
charter school entity unassigned fund balance limit shall be
refunded on a pro rata basis within ninety (90) days to all
school districts that paid tuition to the charter school entity
in the prior school year, based upon the number of students for
whom each school district paid tuition to the charter school
entity multiplied by the school district's per student payment
under section 1725-A.
(3) By October 31, 2019, and by October 31 of each year
thereafter , each charter school entity shall provide the
department and all school districts that paid tuition to the
charter school entity in the prior school year with information
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