Okla. Stat. tit. 70, § 70-3-142

A. The student membership and attendance of a charter school

shall be considered separate from the student membership and

attendance of the sponsor for the purpose of calculating enrollment

and funding including weighted average daily membership pursuant to

Section 18-201.1 of this title and State Aid pursuant to Section 18-

200.1 of this title. A charter school shall receive the State Aid

allocation, federal funds to which it is eligible and qualifies for,

and any other state-appropriated revenue generated by its students

for the applicable year. Not more than three percent (3%) of the

State Aid allocation may be charged by the sponsor as a fee for

administrative services rendered if the sponsor is a school

district, a comprehensive or regional institution of higher

education, a two-year college, a private institution of higher

learning accredited pursuant to Section 4103 of this title, or a

federally recognized Indian tribe pursuant to Section 3-132 of this

title. The Statewide Charter School Board shall not charge any

charter school or virtual charter school a fee for administrative or

other services. The State Department of Education shall determine

the policy and procedure for making payments to a charter school or

virtual charter school. The fee for administrative services as

authorized in this subsection shall only be assessed on the State

Aid allocation amount and shall not be assessed on any other

appropriated amounts. A sponsor of a charter school shall not

charge any additional State Aid allocation or charge the charter

school any additional fee above the amounts allowed by this

subsection unless the additional fees are for additional services

rendered. The charter school sponsor shall provide to the State

Department of Education financial records documenting any state

funds charged by the sponsor for administrative services rendered

for the previous year.

B. The fee for administrative services authorized by subsection

A of this section shall be used by the sponsor to provide oversight

and services to the charter schools it sponsors. The State

Department of Education shall develop data codes for the Oklahoma

Oklahoma Statutes - Title 70. Schools Page 210

Cost Accounting System which shall be used to comply with the

administrative services reporting required by this section. A

charter school sponsor shall publish a detailed report on its

website and present the report in a public meeting of the charter

school governing board and the charter school sponsor governing

board. The report shall provide sponsor performance and stewardship

including compliance with all applicable laws, regulations, and

terms of the charter contract and listing expenses related to

oversight and services provided by the sponsor to the charter

schools it sponsors.

C. For the purpose of calculating weighted average daily

membership pursuant to Section 18-201.1 of this title and State Aid

pursuant to Section 18-200.1 of this title, the weighted average

daily membership for the first year of operation of a new charter

school site or grade level or full-time statewide virtual charter

school shall be determined initially by multiplying the actual

enrollment of students as of August 1 by 1.333. The charter school

or virtual charter school shall receive revenue equal to that which

would be generated by the estimated weighted average daily

membership calculated pursuant to this subsection. At midyear, the

allocation for the charter school or virtual charter school shall be

adjusted using the first quarter weighted average daily membership

for the charter school or virtual charter school calculated pursuant

to subsection A of this section. For each subsequent school year,

weighted average daily membership shall be calculated as provided

for in Section 18-201.1 of this title, and State Aid shall be

calculated as provided for in Section 18-200.1 of this title.
be

adjusted using the first quarter weighted average daily membership

for the charter school or virtual charter school calculated pursuant

to subsection A of this section. For each subsequent school year,

weighted average daily membership shall be calculated as provided

for in Section 18-201.1 of this title, and State Aid shall be

calculated as provided for in Section 18-200.1 of this title.

D. Except as explicitly authorized by state law, a charter

school or virtual charter school shall not be eligible to receive

state-dedicated, local, or county revenue; provided, a charter

school or virtual charter school may be eligible to receive any

other aid, grants, or revenues allowed to other schools. A charter

school or virtual charter school shall be considered a local

education agency for purposes of funding.

E. Any unexpended funds received by a charter school or virtual

charter school may be reserved and used for future purposes. The

governing board of a charter school or virtual charter school shall

not levy taxes or issue bonds. If otherwise allowed by law, the

governing board of a charter school or virtual charter school may

enter into private contracts for the purposes of borrowing money

from lenders. If the governing board of the charter school or

virtual charter school borrows money, the charter school or virtual

charter school shall be solely responsible for repaying the debt,

and the state or the sponsor shall not in any way be responsible or

obligated to repay the debt.

Oklahoma Statutes - Title 70. Schools Page 211

F. Any charter school or virtual charter school which chooses

to lease property shall be eligible to receive current government

lease rates.

G. Except as otherwise provided in this subsection, each

charter school shall pay to the Charter Schools Incentive and

Closure Reimbursement Fund created in Section 3-144 of this title an

amount equal to Five Dollars ($5.00) per student based on average

daily membership, as defined by paragraph 2 of Section 18-107 of

this title, during the first nine (9) weeks of the school year.

Each charter school shall complete the payment every school year

within thirty (30) days after the first nine (9) weeks of the school

year. If the Charter Schools Incentive and Closure Reimbursement

Fund has a balance of One Million Dollars ($1,000,000.00) or more on

July 1, no payment shall be required the following school year.

H. Upon the effective date of this act, the Statewide Charter

School Board shall transfer all funds remaining in the balance of

the Charter School Closure Reimbursement Revolving Fund to the

Charter Schools Incentive and Closure Reimbursement Fund created

pursuant to Section 3-144 of this title.