FILE:  DCBD

Cf:  DCBC

 

SCHOOL TRANSFORMATION FUND

 

 

The Orleans Parish School Board shall establish a School Transformation Fund.  The purpose of the School Transformation Fund is to ensure public funds are distributed equitably to support successful school transformations.

 

DEPOSITS INTO THE SCHOOL TRANSFORMATION FUND

 

In accordance with La. Rev. Stat. Ann. §17:3991 and La. Rev. Stat. Ann. §17:3995, when a charter school non-profit organization no longer operates a charter school(s), all unrestricted general fund balances remaining after all obligations, debt(s) and/or legal obligations are paid, from funding generated primarily by the Minimum Foundation Program (MFP), deferred revenue in accordance with policy DCBC, Deferred Revenues, and any other state or local public funds shall be transmitted to the School Board.  Beginning with charter school closures occurring after enactment of this policy, these funds shall be returned to the School Board and deposited into the restricted School Transformation Fund, except as otherwise provided by policy HG, District Optimization.

 

  1. A closing school within a Charter Management Organization, the eligible fund balance transfer shall be calculated based on the funds specifically attributable to the closing school.

  2. The Superintendent shall review the estimated balance transfer for each school through the school closeout and transformation process.

 

The School Board may make additional deposits into the School Transformation Fund from other funding sources allowed by state law and upon approval of the board.

 

DISTRIBUTIONS FROM THE SCHOOL TRANSFORMATION FUND

 

  1. Funds will be distributed to eligible transformation operators pursuant to a plan developed by the Superintendent and presented to the Orleans Parish School Board (OPSB).

  2. Funds shall begin to be distributed no sooner than Fiscal Year 2021-2022.

  3. The Superintendent shall develop the distribution plan in collaboration with school leaders.  At a minimum, collaboration with school leaders shall include the following activities before the proposed plan is presented to the School Board:

 

  1. One or more convenings of school finance leaders to contribute to the development of the proposed plan;

  2. Presenting the proposed plan and subsequent revisions to the plan to all school leaders; and

  3. Providing school leaders an opportunity to provide written and verbal feedback on the proposed plan and subsequent revisions to the plan.

 

  1. The distribution plan shall consider, but is not limited to, the process by which an incoming operator may request funds, the distribution timeline, the enrollment of closing schools and the enrollment retention of transforming schools, the funds contributed annually, a minimum amount and maximum amount to be retained in the fund for future transformations and other factors deemed relevant to a distribution plan.

 

New policy:  December 17, 2020

Revised:  March 23, 2023

 

 

Ref:    La. Rev. Stat. Ann. §§17:3991, 17:3995

Board minutes, 12-17-20, 3-23-23

 

Orleans Parish School Board