Total CranstonEnrollment:88 219 302 379 460
Total Funding for Cranston StudentsAttending AFMA ($):1,046,945 2,727,229 3,929,050 5,141,552 6,240,406
Source: Office of Finance, Rhode Island Dept of Education
In summary, the revenue designated to serve Cranston students attending AFMA, per thenew formula, would range between approximately $1M in the school’s first year to$6.2M in the schools fifth year.
IV. Effects of AFMA Funding on Cranston School Department Funding
The amount of funding designated for Cranston students attending Achievement FirstMayoral Academies at maximum Cranston enrollment
does not equal
the amount of revenue that would cease to go to the Cranston district.Just as the state funding for the district is being increased over the next seven years, theshift of state funds away from the district for Cranston students attending AFMA would be phased in over seven years.In other words, assuming the mayoral academy opens in FY2013 as scheduled, only one-seventh (1/7) of the state funding that would go to AFMA in its first year, or $76,390,could be considered a reduction in state funding for the Cranston district.Due to this phenomenon of the phase-in of additional state funds at the same time as thecreation of a new independent public school, there is no single year where revenue to theAchievement First Mayoral Academies has a net decrease on revenues to the Cranstondistrict. The state increase to the Cranston district is always larger than the fundingrequired for AFMA.
Net State Revenue for Cranston School District, Assuming Maximum CranstonEnrollment into Achievement First Mayoral Academies.+/(-)
FY2012 FY2013 FY2014 FY2015 FY2016 FY2017
State Shiftfor AFMA0(76,390) (228,177) (393,394) (658,276) (1,198,796)Local Shiftfor AFMA0 (588,280) (1,585,799) (2,354,996) (3,166,166) (3,842,840)Total Shiftfor AFMA0 (664,670) (1,813,956) (2,748,390) (3,824,442) (5,041,636)AddCranstonState AidIncrease2,349,234 4,698,468 7,047,702 9,396,936 11,746,170 14,095,404
Net toCranston2,349,234 4,033,798 5,233,746 6,648,546 7,921,728 9,053,768
Source: Office of Finance, Rhode Island Department of Education