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Building Fiscally Savvy Board Members

Module #1 - Key Finance / Funding Update 2024-25

Welcome to the Building Fiscally Savvy Board Member series! In this module, we'll cover key finance and funding updates, including an overview of the Local Control Funding Formula (LCFF), the difference between restricted and unrestricted funds, and the breakdown of state and federal revenue sources for charter schools.

You'll also learn about the critical components of school funding, such as special education funds, lottery funds, and other restricted funding sources. By the end of this module, you'll have a solid understanding of how charter schools are funded and how to navigate the complexities of financial decision-making. Let's dive in and empower your board leadership today!

💡 Bonus Tip: Understand the Impact of Unduplicated Students on Funding:


The Local Control Funding Formula (LCFF) provides additional funding for high-need students, such as English learners, low-income students, and foster youth, who are categorized as "unduplicated." Recognizing the significance of these students can help board members understand why targeted funding is allocated and how these resources can be effectively used to support the educational success of these groups.

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Question 1 of 5

 

1. What percentage of a charter school's funding typically comes from the Local Control Funding Formula (LCFF)?

A) 0-10% B) 10-30% C) 70-90% D) 100%

💡 Bonus Tip 2: Know the Importance of Federal Fund Restrictions


Federal funds come with stringent restrictions, meaning they can only be used for specific purposes, like supporting special education or English learners. Board members should be mindful of these restrictions and ensure compliance with all federal guidelines to avoid issues during audits. This proactive approach will contribute to the overall fiscal health of the school.

Module #2 - Critical Budget Drivers
Module #2 - Critical Budget Drivers
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Module #3 - Financial Philosophies
Module #3 - Financial Philosophies
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Copy of Module #4
Module #4 - Finance Package
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