Cal. Code Regs. Tit. 4, § 10155 - Content of Application for Preliminary, Advance, and Final Apportionment
(a)
Preliminary Apportionment--In determining whether a Charter School is
Financially Sound for the purposes of the Board's Preliminary Apportionment,
the Authority shall require the following information be provided by the
applicant with its application (Form CSFA 03-01, revised 3/04) for Preliminary
Apportionment:
(1) Organizational
information.
(A) History of Charter School
and founding group
1. Date Charter School
commenced instructional operations;
2. Description of Charter School curriculum,
including specific focus or theme;
3. Analysis of competition and Charter
School's competitive advantage(s), including method of student recruitment and
marketing;
4. Description of
relationships with the Chartering Authority and all major funding sources, both
public and private;
5. Copy of
articles of incorporation and corporate bylaws (or documentation of Charter
School's current legal status in the event the Charter School is not
incorporated); and
6. Copy of
charter agreement/approved charter amendment/contract.
(B) If the applicant's charter is due to
expire within 12 months of application submission, written documentation
describing the Applicant's plan for charter renewal along with any available
information regarding the Chartering Authority's support for the renewal. For
any applicant, regardless of the timing of charter renewal, the Authority
reserves the right to request additional and specific information regarding the
Applicant's charter renewal status, including information directly from the
Chartering Authority;
(C) The
Charter School's most recent business plan and/or strategic plan. If possible,
such plans should encompass the next three academic years. For expansions,
staffing plans also must be submitted;
(D) The operational agreement or memorandum
of understanding between the Charter School and the Chartering
Authority;
(E) Historical, current,
and projected enrollment and attendance, by grade level, for the next five
years or through the first two fiscal years following the occupancy of the
Project, whichever is longer, and the Charter School's waiting list, if
available;
(F) Targeted student
population and student year-to-year retention rates for all years of operation
of the Charter School;
(G) Student
performance data for the past three academic years;
(H) List of the Charter School's board of
directors including their occupations, cities of residence, and terms of
office; and
(I) Resumes of key
staff members (e.g., Chief Executive Officer, President, Operations Manager,
Chief Financial Officer, Principal, etc.) of the Charter
School.
(2) Project
Information
(A) Overview of Project,
including size in square feet, number of classrooms, type of facility, and
student capacity;
(B) Project type,
including new construction, renovation, or rehabilitation;
(C) Project address, if known. If yet to be
determined, a general description of the proposed project location;
(D) School district where Project is
located;
(E) Anticipated date that
instructional operations will begin at the Project; and
(F) Anticipated total Project
costs.
(3) Financial
information.
(A) The Charter School's or
Obligor's organizational budgets for the current and next fiscal
years;
(B) The Charter School's or
Obligor's projected income statements and cash flows, including written
assumptions, for the next five years or through the first two fiscal years
following the first full year of occupancy of the Program-funded facility,
whichever is longer;
(C) The
Charter School's or Obligor's audited financial statements, including notes,
for the last three fiscal years. If the Charter School is in its third year of
operation, only two fiscal years of audited financial statements are
necessary;
(D) The Charter School's
or Obligor's anticipated financial contribution to the project, including any
lump sum payment to be made to meet its Local Matching Share requirements by or
on behalf of the Charter School, and the source of the anticipated financial
contribution;
(E) The Charter
School's or Obligor's most current available financial statement (unaudited),
including a year-to-date actual and estimated annual financial statement and a
current total annual budget;
(F) A
listing of historical, current, and anticipated future funding through private
contributions; and
(4)
All Existing and Anticipated Debt Obligations.
(A) List the total amounts, annual amounts,
interest rates, and maturity dates of all existing and anticipated short- and
long- term debt obligations of the applicant or charter school;
(B) A description of the equipment or
facilities financed with the debt obligations;
(C) If applicable, provide information about
any debt covenants that could impact the Program debt obligation; and
(D) Provide copies of all financing documents
associated with the debt obligations.
(5) All Material Contracts.
(A) List and copy of all material contracts,
including, but not limited to, management, support services, transportation
contracts, and any such anticipated contracts involving use of space or
equipment to be financed with Program funds;
(B) A description of services provided by the
vendor to the charter school; and
(C) For those Charter Schools contracting
with educational management organizations, the following information also must
be provided:
1. Brief history of the
organization, including most recent annual report;
2. Description of who is served by the
organization, including mission and targeted geographic area;
3. Budget of the organization for the current
and next three fiscal years;
4.
Financial audits of the organization for the last three fiscal years;
5. Resumes for key staff of the
organization;
6. List of board of
directors of the organization, including their occupations and cities of
residence;
7. Contact information
for the organization; and
8. A
narrative describing the organization's scope and strategic plan for the next
three years.
(6) Legal Status Questionnaire.
(A) A completed Legal Status Questionnaire
submitted in the form set forth by the Authority as part of Form CSFA 03-01,
revised 3/04, and which can be found on the Authority
website.
(7) For a
Charter School which is governed by a school district, county office of
education, or the State Board of Education, if any of the specific
documentation requested in this section is not available, the applicant must
provide a justification for not providing the specific documentation requested
and provide alternative documentation that addresses the requested
information.
(8) For organizations
which operate multiple schools or which are applying on behalf of multiple
schools, the information requested in this section must be submitted
specifically with respect to each school for which an Application is submitted,
along with such information for the organization as a whole.
(9) Failure to provide sufficient required
information as described in this section, in a timely manner, may result in the
Authority's inability to determine the financial soundness of an applicant and
the applicant's disqualification from the Program.
(b) Advance Apportionment--Where an Applicant
has applied to the Board for an advance release of funds, the following holds:
(1) If the Certification of Financial
Soundness for the Preliminary Apportionment is no longer valid, the Authority
will conduct a review of the Applicant's financial status at the time of the
Application for Advance Apportionment to determine whether the charter school
has maintained a financially sound status. The Authority will, in connection
with this review, request updates of any information that was provided in the
Applicant's Preliminary Application, as described in Section
10155(a).
(2) Prior to the release of funds for site
acquisition for Advance Apportionments, a Charter School holding title to the
Project facility must comply with Section
17078.63 of
the Education Code; and
(3) Advance
funds will only be released when Program Agreements have been executed by all
parties.
(c) Final
Apportionment--In determining whether an Applicant is Financially Sound prior
to the Final Apportionment, the Authority will require the Applicant to update
information submitted in the original Application for Preliminary
Apportionment, or submitted for Advance Apportionment, including, but not
limited to:
(1) Any material changes to
information provided pursuant to sections
10155(a)(1), (2), (3), (4), (5), and
(6), and updates, including, but limited to:
(A) If applicable, renewals and amendments to
the charter agreement/contract and any operational agreement or memorandum of
understanding between the Charter School and the Chartering
Authority;
(B) Updated business and
strategic plans encompassing the next five academic years;
(C) Current enrollment, targeted student
population, and student retention rates for all years after the date of the
Preliminary Apportionment but prior to the Final Apportionment;
(D) Projected enrollment and attendance, by
grade level, for the next five years or through the first two fiscal years
following the occupancy of the Program-funded facility, whichever is longer,
and current waiting list, if available;
(E) Student performance data for all years
after the date of the Preliminary Apportionment but prior to Final
Apportionment;
(F) Current list of
board of directors, including their occupations, cities of residence, and terms
of office;
(G) Resumes of new key
staff, along with notice of any resignations or terminations of key staff
originally identified in the Application;
(H) Audited financial statements for all
years ending not less than 180 days after the Preliminary Apportionment and
prior to the Final Apportionment;
(I) Most current unaudited financial
statement, including year-to-date actual and estimated annual financial
statement and a current total annual budget;
(J) Projected income statements and cash
flows, including written assumptions, for the next five years or through the
first two fiscal years following the occupancy of the Program-funded facility,
whichever is longer;
(K) Any
material changes in material contracts and debt obligations existing as of the
date of the Preliminary Apportionment and additional material contracts and
debt obligations entered into since the Preliminary Apportionment, including
any changes to educational management organization contracts or any sale of
accounts receivable associated with anticipated Program proceeds, if
applicable; and
(L) A completed
Legal Status Questionnaire submitted in the form set forth by the Authority, as
part of Form CSFA 03-01, revised 3/04, and found on the Authority's website
reflecting any changes since the application.
(d) Prior to the release of funds for site
acquisition or new construction for Final Charter School Apportionments, a
Charter School holding title to the Project facility must comply with Section
17078.63 of
the Education Code.
(e) In the
event that the Charter School's charter is no longer valid, the Authority will
notify the Board that the Charter School is no longer Financially
Sound.
(f) Final Apportionment
funds will only be released when Program Agreements have been executed by all
parties.
Notes
2. Certificate of Compliance as to 2-13-2003 order transmitted to OAL 6-12-2003 and filed 7-14-2003 (Register 2003, No. 29).
3. Amendment of section and NOTE filed 3-29-2004 as an emergency pursuant to Education Code section 17078.57(b); operative 3-29-2004 (Register 2004, No. 14). A Certificate of Compliance must be transmitted to OAL by 7-27-2004 or emergency language will be repealed by operation of law on the following day.
4. Amendment of section and NOTE refiled 7-19-2004 as an emergency pursuant to Education Code section 17078.57(b); operative 7-27-2004 (Register 2004, No. 30). A Certificate of Compliance must be transmitted to OAL by 11-24-2004 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 7-19-2004 order, including further amendment of subsection (a)(2), transmitted to OAL 11-8-2004 filed 12-23-2004 (Register 2004, No. 52).
6. Amendment of first paragraph and subsections (a)(4), (b)(5) and (d) filed 11-3-2006 as an emergency; operative 11-3-2006 (Register 2006, No. 44). A Certificate of Compliance must be transmitted to OAL by 3-5-2007 or emergency language will be repealed by operation of law on the following day.
7. Reinstatement of section as it existed prior to 11-3-2006 emergency amendments pursuant to Government Code section 11346.1(f) (Register 2007, No. 39).
8. Amendment of subsections (a)(5)-(6), (b)(2) and (b)(6), new subsections (c)-(c)(4) and subsection relettering filed 9-9-2010 as an emergency; operative 9-9-2010 (Register 2010, No. 37). A Certificate of Compliance must be transmitted to OAL by 3-8-2011 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 9-9-2010 order transmitted to OAL 1-19-2011 and filed 2-16-2011 (Register 2011, No. 7).
10. Amendment of section heading, section and NOTE filed 11-3-2011 as an emergency; operative 11-3-2011 (Register 2011, No. 44). A Certificate of Compliance must be transmitted to OAL by 5-1-2012 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 11-3-2011 order, including further amendment of subsection (b)(2), repealer of subsection (c)(1)(B), subsection relettering and amendment of subsection (d) and NOTE, transmitted to OAL 2-7-2012 and filed 3-5-2012 (Register 2012, No. 10).
12. Amendment of section heading and section filed 7-3-2018; operative 10-1-2018 (Register 2018, No. 27).
Note: Authority cited: Section 17078.57, Education Code. Reference: Sections 17078.52, 17078.53, 17078.57 and 17078.63, Education Code.
2. Certificate of Compliance as to 2-13-2003 order transmitted to OAL 6-12-2003 and filed 7-14-2003 (Register 2003, No. 29).
3. Amendment of section and Note filed 3-29-2004 as an emergency pursuant to Education Code section 17078.57(b); operative 3-29-2004 (Register 2004, No. 14). A Certificate of Compliance must be transmitted to OAL by 7-27-2004 or emergency language will be repealed by operation of law on the following day.
4. Amendment of section and Note refiled 7-19-2004 as an emergency pursuant to Education Code section 17078.57(b); operative 7-27-2004 (Register 2004, No. 30). A Certificate of Compliance must be transmitted to OAL by 11-24-2004 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 7-19-2004 order, including further amendment of subsection (a)(2), transmitted to OAL 11-8-2004 filed 12-23-2004 (Register 2004, No. 52).
6. Amendment of first paragraph and subsections (a)(4), (b)(5) and (d) filed 11-3-2006 as an emergency; operative 11-3-2006 (Register 2006, No. 44). A Certificate of Compliance must be transmitted to OAL by 3-5-2007 or emergency language will be repealed by operation of law on the following day.
7. Reinstatement of section as it existed prior to 11-3-2006 emergency amendments pursuant to Government Code section 11346.1(f) (Register 2007, No. 39).
8. Amendment of subsections (a)(5)-(6), (b)(2) and (b)(6), new subsections (c)-(c)(4) and subsection relettering filed 9-9-2010 as an emergency; operative 9-9-2010 (Register 2010, No. 37). A Certificate of Compliance must be transmitted to OAL by 3-8-2011 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 9-9-2010 order transmitted to OAL 1-19-2011 and filed 2-16-2011 (Register 2011, No. 7).
10. Amendment of section heading, section and Note filed 11-3-2011 as an emergency; operative 11-3-2011 (Register 2011, No. 44). A Certificate of Compliance must be transmitted to OAL by 5-1-2012 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 11-3-2011 order, including further amendment of subsection (b)(2), repealer of subsection (c)(1)(B), subsection relettering and amendment of subsection (d) and Note, transmitted to OAL 2-7-2012 and filed 3-5-2012 (Register 2012, No. 10).
12. Amendment of section heading and section filed 7-3-2018; operative
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