Now worth an approximate
Uplift’s chief financial officer
“Finding affordable facilities is key to Uplift’s ability to expand and meet the needs of the thousands of families on our waitlists who want to send their children to high-performing schools like ours,”
Because the State does not provide funding to charters for their school buildings, Uplift must finance those facilities by going to the bond market.
“In our last bond sale, we were able to get a slightly more attractive interest rate purely from the strength of our financial position. Those savings could then be directed towards supporting instruction versus paying higher debt service cost,” he said.
Currently, Uplift’s bond debt is about
The availability of bond financing does not offset the need for access to additional public funding though. According to
“Texas Charters have grown by 14 percent in the last five to six years, representing more than three percent of the state’s enrolled students. Through the lawsuit, we’ll be looking to gain equitable funding and facilities funding. As difficult as it is for charters to find facilities, this is especially important right now,” Ms. Young said.
“Our scholars are making important academic gains as we introduce innovative teaching practices and support services like our Road to College program, all the while pursuing as much funding as we can find. We've had the wonderful support of our philanthropic friends in
Ms. Bhatia also believes state officials should revisit its charter funding model. Currently, charter allocations are made monthly, where traditional ISDs receive a large percentage of their funds up-front, making it easier to acquire academic resources for their students.
About Uplift Education
Uplift Education is a is a 501(c)(3) nonprofit organization operating a network of 28 tuition-free, college preparatory, public charter schools in
Read the full story at http://www.prweb.com/releases/2014/02/prweb11565604.htm
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