The Utah State Charter School Board (SCSB) is a charter authorizer approved by the Utah State Legislature to bring charter schools into existence. Authorizers set up application processes and make decisions on new charter school applications.
ARE YOU CURRENTLY APPLYING FOR A NEW CHARTER SCHOOL?
Is your school looking to expand? Expansion means a proposed increase of students and/or changing the grade your school serves. A small expansion is for fifty or fewer students, would not necessitate renovation, and is for no more than one additional grade. A satellite school refers to a charter school affiliated with an operating charter school. It shares the same charter school governing board and a similar program of instruction but possesses a different school number than the affiliated charter school.
Applications presented during August SCSB Board Meeting.
Applications presented during January SCSB Board Meeting.
ARTICULATION AGREEMENTS
The purpose of the Articulation Agreement Request is to provide a process for charter school governing boards to request an articulation agreement with each other. The Articulation Agreement is based on UCA§53G-6-502 which permits a charter school to give an enrollment preference to a student articulating from one charter school to another pursuant to an articulation agreement between the charter schools that is approved by the State Charter School Board.
Have questions about charter applications? Use this form to get in touch with SCSB staff. Send your question by completing the following:
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TRANSFER RATE
Target: ≤ %
Transfer Rate = Number of transfered students / Total students
Definition: The percentage of students who leave the school during the year to go to another private or public school in the state, to go to home school, or who dropped out. Excluded are non-residents, students whose school of record is another school, students who attended the school for less than 10 days, and students in kindergarten.
Data Source: Enrollment and exit data reported to UTREx.
RETENTION RATE
Target: ≥ %
Retention Rate = Students enrolled at end of previous year and still enrolled on October 1st / Students enrolled at end of previous year
Definition: Percentage of students enrolled at year-end who returned to a school within the LEA by October 1st of the following school year.
Data Source: Enrollment and exit data reported to UTREx.
ENROLLMENT TRENDS
Target: ≥ % of prior year October 1st enrollment count
Enrollment Trends = Current year October 1st count / Prior year October 1st count
Definition: A trajectory of October 1st enrollment and Average Daily Membership (ADM) derived from enrollment data reported to UTREx.
Data Source: Enrollment data reported to UTREx.
ADM
Definition: A comparison of a school’s end of year ADM to that school year’s October 1 counts. A significantly lower ADM compared to October 1 enrollment may negatively affect funding and could signal problems for a school to retain enrollment levels.
Data Source: Enrollment data reported to UTREx.
Finance Metric Details
Unrestricted Days Cash on Hand = (Cash + Cash Equivalent - Total Funds in Restricted Programs) x 365 / (Total Operating Expenses - Annual Depreciation Expense)
Target:
UDCOH ≥ 60 days
OR UDCOH is between 30 and 60 days with a positive increase from previous year
New LEAs: This will not be used in the assessment of LEAs in their first two years of operations.
Does the school have the cash to pay bills?
Definition: How long, in days, the school could meet their operating expenses without receiving new income.
Data Source: Cash and Cash Equivalents: statement of net position Cash Equivalent: statement of net position Total Operating Expenses: statement of activities Annual Depreciation: notes to financial statements
Total Funds in Restricted Programs are restricted funds that are entered in to reflect the decrease in cash.
Finance Metric Details
Facility Cost = (Operation and Maintenance of Facilities + Lease Payment + Debt Service) / Total Revenue
Debt Service = Annual Principal + Interest
Target: ≤ 24%
Definition: Total operation and maintenance of facility.
Data Source: Statement of Revenue, Expenditures, and Changes in Fund Balance – Governmental Funds. Notes Section of the Audited Financials.
Finance Metric Details
Debt Service Coverage Ratio = (Change in Net Position + Depreciation + Interest Expense) / (Annual Principal + Interest + Lease Payment)
Target: ≥ 1.1
Is an LEA able to cover its debt obligations?
Definition: The ratio indicates a school's ability to cover its debt obligations in a current year.
Data Source: AFS of public financial reporting download in October, Government wide
Finance Metric Details
Debt to Asset = Total Liabilities / Total Assets
Target: ≤ 0.9
To what extent does an LEA rely on borrowed funds to finance its operations?
Definition: The amount of liabilities a school owes versus the assets they own.
Data Source: AFS or public financial reporting download in October, Government wide
Finance Metric Details
Current Ratio = Current Assets / Current Liabilities
Target: Current ratio ≥ 1
Does the school have enough assets to meet its financial obligations over the next year?
Definition: Measures the school's ability to pay its obligations over the next 12 months. It shows how quickly short-term assets can be converted into cash to pay short-term liabilities.
Data Source: Statement of net position
Finance Metric Details
Cash Flow = Current year cash balance - last year cash balance
Target: Cash Flow > $0
Does the LEA have a positive cash flow year over year?
Definition: The LEA's cash generated over a period of time indicating long-term financial stability.
Data Source: AFS or public financial reporting download in October, General Fund
Finance Metric Details
Total Margin = Change in Net Position/Total Revenue
Change in Net Position = Total Revenue - Total Expenses
3 year aggregated = Sum of 3 years' Change in Net Position/Sum of 3 years' Total Revenue
2 year aggregated = Sum of 2 years' Change in Net Position/Sum of 2 years' Total Revenue
Target:
most recent Total Margin > 0% and 3 year aggregated is positive
OR 3 year aggregated > -1.5% and the previous year is positive and most recent year is positive
Is the LEA living within its means?
Definition: Measures an LEA's deficit or surplus out of total revenues (Includes change in temporary restricted net assets)
Data Source: AFS or public financial reporting download in October.
Finance Metric Details
Deficit/Surplus (i.e. Change In Net Position) = Revenue - Expenses
Target: Surplus/Revenue > $0
Is the school living within its available resources?
Definition: Measures an LEA's deficit or surplus out of total revenues (Does not include temporary restricted net assets)
Data Source: Statement of Activities.
Enrollment/Finance Metric Details
Enrollment Variance = Current year enrollment/budgeted enrollment
Target: Enrollment variance >= 95%
Is the enrollment sufficient to cover expenses?
Definition: Measures an LEA's student enrollment to their budgeted (projected) enrollment.
Data Source: UCAP, OCT 1 student enrollment, projections
Finance Metric Details
Target: The LEA has not defaulted on loan covenant(s) or is not delinquent with debt service payments
Has the LEA defaulted on loan covenant(s) or is it delinquent with debt service payments?
Definition: Checks the LEA's responisibility towards loan covenants and debt service payments.
Data Source: AFS unless schools self reported
Finance Metric Details
Audit Findings: PASSED
Is the LEAs audit satisfactory?
Definition: Auditor finds the financial statements to be accurate and complete, without material weakness, significant deficiency, or other matters.