Funded: Charters

A Detailed Look at Each State's Charter School Funding Policies

Below, see summaries of the state’s education funding policy in each issue area. Click the Expand icon next to any summary to see more detail, if available, about that state’s policy regarding that issue area. Click the Citation icon
next to any summary to see the sources of the information regarding that issue area.
New Mexico
Funding Basics
Authorizer

Charter funding policies and reporting practices within each state may vary depending on the entity that authorized the charter school. Charter schools in New Mexico may be authorized by local school districts and the New Mexico Public Education Commission.

References:
“Charter Schools: What organizations may authorize charter schools, and is there a statewide authorizing body?” Education Commission of the States, 50-State Comparison, January 2018. 
Funding Formula

Funding for charter schools in New Mexico is calculated based on a formula similar to the one used to calculate funding for traditional public schools.

Like traditional public schools, charter schools are funded through a student-based funding formula, which provides increased funding to some categories of students, such as English-language learners, students from low-income households, gifted and talented students, and others. Charter schools also receive a share of revenue raised by local school districts.

References:
N.M. Stat. Ann. § 22-8B-13 (Lexis 2019)
pers. comm. Baylor Del Rosario, New Mexico Public Education Department, email, October 26, 2018.
Funding Distribution
Funding Distribution

Charter schools in New Mexico receive funding directly from the state, as well as from local school districts.

Charter schools receive state funding directly from the state, and local funding from local school districts. Charter schools authorized by local school districts also receive some federal funding through local school districts.

References:
N.M. Stat. Ann. § 22-25-7 (Lexis 2019)
N.M. Stat. Ann. § 22-26-9 (Lexis 2019)
N.M. Stat. Ann. § 22-8B-13 (Lexis 2019)
pers. comm. Baylor Del Rosario, New Mexico Public Education Department, email, October 26, 2018.
 
Withholdings

Charter schools in New Mexico will have a share of their funding withheld, with the maximum set by state law.

Entities that authorize charter schools may withhold up to 2% of charter funding for administrative purposes.

References:
N.M. Stat. Ann. § 22-8B-13 (Lexis 2019)
Local Taxes

All charter schools in New Mexico receive a share of local tax revenue.

Charter schools receive a share of the $0.50 for every $1,000 of assessed local property wealth that local school districts are required to contribute. In addition, charter schools receive a share of two types of levies for capital improvements, proportional to their student count.

References:
N.M. Stat. Ann. § 22-25-7 (Lexis 2019)
N.M. Stat. Ann. § 22-26-9 (Lexis 2019)
pers. comm. Baylor Del Rosario, New Mexico Public Education Department, email, October 26, 2018.
Data and Reporting
Legal Status

Some charter schools in New Mexico constitute their own local education agencies, while others are a part of local education agencies.

Charter schools authorized by the state Public Education Commission constitute their own local education agencies while charter schools that are authorized by local school districts are part of the districts’ local education agencies.

References:
pers. comm. Baylor Del Rosario, New Mexico Public Education Department, email, October 26, 2018.
Student Count

Charter school students in New Mexico are counted as students of the charter they attend for state reporting purposes.

References:
pers. comm. Baylor Del Rosario, New Mexico Public Education Department, email, October 26, 2018
Funding

State funding for charter schools in New Mexico is reported separately from state funding for any district.

State funding for charter schools is reported separately, but federal funding and funding for capital outlay for charter schools may be reported as part of funding for local school districts.

References:
pers. comm. Craig David, New Mexico Public Education Department, email, January 10, 2019.
Expenditures

Charter school expenditures in New Mexico are reported separately from expenditures of any school district.

Most charter expenditures in New Mexico are reported separately, but some administrative support expenditures for charter schools authorized by local school districts may be included in expenditures of those school districts.

References:
 pers. comm. Craig David, New Mexico Public Education Department, email, January 10, 2019.