Each year, as we develop our annual budget, we account for the full costs of operating a public charter school, including contingencies for unforeseen circumstances that may arise during the school year. While not all scenarios are expected to occur, the budget is designed to present an accurate and realistic financial picture should they arise. The Board receives monthly fiscal reports from school administration to monitor the school’s financial health throughout the year.
Due to the charter school funding model, we anticipate an annual operating deficit and therefore rely heavily on financial contributions from our families and the broader community to make up the gap. The approved budget reflects a projected deficit for the fiscal year.
Like all New Hampshire charter schools, Mill Falls receives a fixed per-pupil allocation from the state, established through the legislative budget process. This allocation is our primary source of operating revenue. State-issued charter schools like ours only receive about half of what traditional public schools in our state receive. Also of note, we do not receive any funding from the Manchester School District or the City of Manchester.
Like all NH charter schools, we are expected to fundraise the dollars needed to make up the difference between the state funding per pupil and the cost of our educational program. We partner with members of our school community, and with external supporters and funders to help us meet our funding goals each year.
Through coordinated fundraising and partnership efforts by the School, the Foundation, and other income-generating programs, we project that we will again meet the anticipated deficit outlined in this budget. Support from families, friends, partners, and sponsors strengthens our foundation and ensures that our students and teachers have the resources they need to succeed.
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