It’s hard to believe the Charter Schools Development Center’s “Leadership Update” Conference is next week! Held in San Diego,CA November 16-17, the event is designed to provide California’s charter school movement with the skills and knowledge needed to thrive during the school year ahead. This year’s event will undoubtedly promote thought-provoking content on the latest charter issues.
- Many times new and expanding charters will face cash flow crunches in the early stages of the year. New schools do not receive their first principal apportionment payment sometimes until the first week of October and, unless they have a start up grant or some philanthropy, they may not have the cash on hand to open the doors for the start of the school year. Expanding charters with increasing enrollments, either by adding grades or straight organic growth will have the challenge of cash flow crunches in P1 until the state catches up with payments in P2. In. In both situations Charter School Capital has helped many charters throughout California over the years receive the necessary funds in time to open the doors or balance the cash flow issues during these times.
- Another area that Charter School Capital has been helping charters in California is with unique facilities financing solutions. Proposition 39 space is an ongoing challenge for many charters in California. The uncertainty of available, equitable space continues to be a point of contention for charters and their authorizing districts. Reapplying year after year for district provided space can be time consuming and create a lot of uncertainty for potential parents and students enrolling in the schools. The space often does not provide enough parking, access to labs, libraries, and outside space. While colocating on the same campus with district schools poses a bevvy of other issues. At Charter School Capital we provide the opportunity for charters to acquire properties that will allow for expansion in a permanent facility knowing they have full control of the property. And they don’t have to become real estate experts over night or become landlords. They can focus on teaching kids while Charter School Capital provides a long term lease with no out-of-pocket expenses, while also collecting SB740 money. If the school ultimately wants to use bond financing long term that is an option too. Either way, the schools can make this dream a reality today without having multiple renewals or deep reserves.