6c6f9896_nce_for_Public_Charter_Schools__Charter_Law_Description
[State] New Mexico [Score] 12 [Charter Law Description] 
New Mexico law provides the amount of funding allocated to a charter school must be not less than 98 percent of the school-generated program cost. It allows an authorizer to withhold and use two percent of the school-generated program cost for its administrative support of a charter school. The law provides that portion of money from state or federal programs generated by students enrolled in a locally chartered charter school must be allocated to that charter school serving students eligible for that aid. In practice, the law is unevenly applied. The law provides that when a state-chartered charter school is designated as a board of finance pursuant to state law, it must receive state and federal funds for which it is eligible. The law provides that state-chartered charter schools may apply for all federal funds for which they are eligible and that locally chartered schools must be included in their district’s consolidated federal application. The law requires locally chartered charter schools to negotiate with a school district to provide transportation to students eligible for transportation under state law. It allows the school district, in conjunction with the charter school, to establish a limit for student transportation to and from the charter school site not to extend beyond the school district boundary. In a national study of charter school funding (University of Arkansas, Charter School Funding: Inequity Expands, 2014), New Mexico charter schools were receiving on average $10,034 per pupil in public funds, while traditional public schools would have received $10,505 for those students. As a result, the state’s charter schools were receiving $471 per pupil—or 4.4 percent—less than what the traditional public schools would have received for those students. This figure includes all sources of funding, and analysis reveals continued inequities for operational, categorical, and capital funding (see Component #19 for information on capital issues).
18. Equitable Operational Funding and Equal Access to All State and Federal Categorical Funding | National Alliance for Public Charter Schools
Charter Law Description