Submitted by admin on January 23, 2010 - 8:45pm
California
56% of P-1 distribution is being deferred until July and August
of 2010 and 25% of P-2 is being deferred 60-90 days.
DEFERRALS ARE REAL. PLAN NOW.
State deferrals are a long term problem for California. Schools need to explore financing options now and secure funding to keep programs intact. Click through the tabs below to learn about how deferrals are impacting charter schools across California.
Annual State Payment Deferrals

The Result:
In FY 2010, 46% of state aid is being deferred 4 months. Industry experts forecast that deferrals will be the same or greater for FY 2011.
2010 P-1 Monthly Deferral Schedule
Month $ On-Time $ Deferred   Anticipated Receipt
February $15,300 $239,700 to August
March $255,000 $-    
April $170,850 $84,150 to September
May $127,500 $127,500 to September
June $- $255,000 to August
Total P-1 Deferred:   $706,350    
Immediate impact:
For every $100,000 the school is expecting in P-1 GPBG revenue, $56,000 will be delayed until at least August / September.