MINNESOTA

Submitted by admin on February 4, 2010 - 9:31pm
in
All Minnesota Charter Schools are eligible to apply.
• There is no “free and reduced lunch” requirement
• There are no membership requirements

In order to be approved for funding:
• Schools must be in good standing with their authorizer and the MDE
• Schools must be organized as a non-profit corporation
• Other conditions may apply on a case by case basis

Minnesota

Submitted by admin on January 26, 2010 - 10:58pm
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Intro Text: 
Holdbacks are increasing to 30% for FY 2011.
Meet uncertainty with a plan.
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We can help your school.
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Minnesota holdbacks are increasing from 27% in FY 2010, to 30% for FY 2011. We can help your school make a plan now. With the state budget facing a projected $5 billion shortfall in the next biennium, there is no sign of reprieve for education. Click through the tabs below to see how holdbacks will impact your school.
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Resources (downloads): 
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"White paper on Cash Flow Challenges for MN Charter Schools" Issued by the Non-profit Assistance Fund, Fall 2009 (Download PDF)
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MDE Memorandum: State Aid Payment Delay under Minn. Stat. § 127A.46

Minnesota Holdbacks

Submitted by admin on January 28, 2010 - 10:50pm
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Overview Page?: 
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Relevant to State: 
Alabama

Our Sample School will have cash flow issues:

Submitted by admin on January 28, 2010 - 10:38pm
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Situation:

• Annualized Revenue = $2.4 million ($10,000/ADM) with 200 ADM
• 30% Holdback = $720,000

Challenge:

• The school needs to cover the 30% shortfall until at least next October.
• The school needs a plan.

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The Situation:
Tab Content - Right Body: 
The school will face a $720,000 cash flow shortfall due to holdbacks
Overview Page?: 
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Relevant to State: 
Alabama

Charter School Capital Financing Solution

Submitted by admin on January 28, 2010 - 10:46pm
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Solution:

• The school has $250,000 in reserves
• Charter School Capital provides $600,000 in funding
• The school has the option of a multi-year agreement

Result:

• The school preserves a sound portion of cash reserves, and keeps their
attention on programs instead of cash flow issues.

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The Result:
Tab Content - Right Body: 
Charter School Capital provides financial resources to cover long-term cash flow needs.
Overview Page?: 
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Relevant to State: 
Alabama
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