CFO warns state funding formula has shifted large share of new money to charter schools; urges task force fix

Chief Financial Officer Kevin Kasky told the Chesterfield County School District board that recent calculations under the state27s funding formula have routed a disproportionate share of new state dollars to charter schools and that proposed proviso language and a task force are intended to correct structural inequities.

Kasky said about $112,000,000 in newly calculated state funding would be distributed this year to public schools; of that amount, charter schools were slated to receive roughly $51,000,000 and traditional districts about $61,000,000. He said a House change adopted May 6 would reduce some charter school weightings and, in its current form, would move approximately $18,000,000 from charters to traditional districts for this year if the conference committee keeps that change.

Kasky explained…