Even as the Obama administration promotes charter schools as a way to help raise the academic performance of the nation’s students, half of Chicago’s charter schools have been running deficits in recent years, an analysis of financial and budget documents shows, calling into question their financial viability.
On Monday, Chicago Public Schools released a bare-bones budget that included a cut of about 6 percent in per-pupil financing for charter schools — to $5,771 from $6,117 per pupil for elementary school students and to $7,213 from $7,647 per pupil for high school students. The cuts are a result of shrinking tax revenue and lagging support from the strapped state government. The city’s 71 charter schools, which enrolled 33,000 students last year and expect to enroll another 10,000 in the 2010-11 school year, stand to lose $15 million under the cuts.
It is difficult to compare the cuts with those that are being made at traditional schools because those schools do not receive money on a per-pupil basis, but district officials said they tried to make the amount of cuts comparable to those being made at traditional schools.