Charter schools are public schools that do not have some of the rules and regulations as the other public schools. They do not charge any tuition fees from the students. Public money in the form of donation is used for running and maintaining the school. Some private donations are also accepted for effective operations of the school premises. It can be opened and attended by any individual or group who has the aim of imparting education for free. Since it is free running school admission in charter schools are very difficult and allocated by means of lottery system. Its ultimate aim lies in imparting general education in more effective manner than the public schools in that area. This is managed by non profit organizations, and corporations and sometimes Universities, colleges and private schools also offer money in the form of Charter School Funding.
Charter schools are maintained and governed by the autonomous principle. Hence they do not adhere to the same rules and regulations of public schools nearby. Precisely, charter is the word used for getting defined contract for running school. In other words, it is the guarantee of contract for opening and maintaining the school over the stipulated period mentioned in the contract. But charter schools are accountable for the performance of its students. Otherwise, the contract may be legally stopped and some times the charter schools are closed for this reason.
Charter School Funding is vital for covering all the expenses of the school and its management. Firstly the building or house must be made available for opening charter school. Even in case if somebody donates the building for noble purpose, renovations and repairs of the existing building need funding. Funding may be needed for payment of salaries and buying other equipments needed for a school. Charter School Funding does not virtually depend only on funds allotted by the district authority. It has various other sources from which funds can be obtained.
Grants are obtained from Charter School Growth Fund which truly serves the purpose of opening many charter schools. Charter School Funding comes in the form of state education department which usually provides huge amounts by way of federal funding programs. Importance is being given for funding the charter schools in the locality since it serves needed students who otherwise cannot afford to pay money for education.
In many charter schools, local district which may have enough money for providing sufficient aids for maintenance of these schools help them by way of Charter School Funding. If not all expenses, at least major expenses like payment of salaries to the teachers, buying bench and tables for the school are met with the money funded by local funding.