Charter School Funding
How is CPSC Funded?
North Carolina Charter Schools are public schools funded by taxpayers. We receive money for annual operating expenses from the state, based on the number of students enrolled, and funds from the counties where students reside. We also receive federal funds for Exceptional Education services.
Why is fundraising so critical for CPSC?
In theory, our per-student funding is same dollar amount that traditional public schools receive. In reality, it's less. The Thomas Fordham Institute's 2005 study of charter school funding estimates that North Carolina charters receive 5.5% less public funds than do regular public schools. For CPSC, that's approximately $132,000 less per year. A few quick facts:
- Durham charter schools receive less state and local funds for annual operating expenses than Durham Public Schools.
- Charter schools receive none of the North Carolina Lottery money earmarked for education.
- Charter schools receive no funding for facilities, either for purchase or for maintenance.
- Budget cuts have reduced state and local funding for education across North Carolina every year since 2009.
Sustaining our Success
CPSC is committed to maintaining a high quality educational community for our faculty and students. We are committed to providing a rich, child-centered, project-based curriculum with small class sizes, top-notch teachers, and a welcoming school facility. In addition, CPSC must reserve a portion of our annual operating income to create a fund for facilities replacement and emergencies.
In spite of all the challenges, CPSC has balanced its budget each year since our inception. In order to sustain our success, we must be creative in supplementing our state and local funds. With additional grants and donations, careful planning, and thoughtful use of our limited resources, CPSC will continue to build a secure financial future.