Funding

(a)The Trustees, in consultation with teachers and administrators, shall determine the school's curriculum and develop the school’s annual budget. The Trustees of each Charter School shall submit to the Council a copy of its budget for each fiscal year.

(b)The Council shall submit, on a timely basis, the budgets of Academy Charter Schools and their respective enrollment data, to include the origin of each student, to I Liheslaturan Guåhan by June 15 of each year.

(c)The amount approved by I Liheslaturan Guåhan for the operation of each Academy Charter School shall be available for expenditure by the Trustees of such Charter School for any lawful purpose. In no case shall an Academy Charter School expend or incur obligations in excess of its approved budget; provided, however, that an Academy Charter School shall be authorized to spend federal grants and other funds received not accounted for in said Charter School’s approved budget. The government of Guam will not subsidize any indebtedness accrued by the Charter Schools if the approved budget by the Charter School’s Board of Trustees exceeds the appropriation amount set forth by I Liheslatura.

(d)Notwithstanding any other provision of this Chapter, no capital improvement funds shall be awarded to a non-converted public school for the purpose of constructing said school, with the exception of constructing temporary structures that can be removed and reverted to the government of Guam, with the approval of the Council.

(e)Academy Charter Schools shall be funded as follows: the Charter School shall receive a tuition amount from the General Fund equal to the number of students enrolled at the Charter School for the CH. 12 GUAM ACADEMY CHARTER SCHOOLS ACT OF 2009 upcoming school year, multiplied by the per pupil cost. The Department of Administration is hereby authorized and directed to deposit said Charter School approved amount from the General Fund appropriation to the Guam Academy Charter School Fund.

(f)All Fiscal Year 2019 funds appropriated to the Charter School may be used to pay prior year obligations.