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Staff explains charter local replacement formula as funding rises for 2026
Summary
Analysts detailed how Utah's charter school local replacement formula works, the recent formula changes, and why the per-student replacement rate rose to about $3,628 for fiscal year 2026—driven by property tax collections and a two-year data lag.
State education financial analysts provided the committee a technical briefing on the charter school local replacement formula, the state mechanism that replaces local property tax revenue for charter students.
Ben Leshman, a financial analyst, and others traced the formula's evolution from a transfer-based approach to the current state-funded model that equalizes property-tax replacement statewide. "The formula provides three averages: district property tax per student, a statewide debt-service average, and then a total average per charter school student," Leshman said.
Nut graf: The formula converts district-level…
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