1. A. For purposes of funding, a charter school shall be considered a site within the school district in which the charter school is located and the student membership of the charter school shall be included in the average daily membership of the school district. A charter school shall receive, for each student, the school district's average local and county revenue which is chargeable in the State Aid formula, state dedicated revenue, and state-appropriated funds per average daily membership generated by its students for the applicable year, less up to five percent (5%) of the total, which may be retained by the school district as a fee for administrative services rendered. The State Board of Education shall determine the policy and procedure for making payments to a charter school.
2. B. The average daily membership for the first year of operation of a charter school shall be determined initially using an estimated student count based on actual registration of students before the beginning of the school year. After the first nine (9) weeks in session for the first year of operation, the charter school shall revise the average daily membership to equal the actual average daily membership of the charter school. If the average daily membership was overestimated or underestimated, the budget of the school shall be revised.
3. C. A charter school shall be eligible to receive any other aid, grants or revenues allowed to other schools.
4. D. A charter school, in addition to the money received from the state, may receive money from any other source. Any unexpended nonstate funds, excluding local revenue, may be reserved and used for future purposes.

Laws 1999, HB 1759, c. 320, § 17, emerg. eff. July 1, 1999; Amended by Laws 2004, SB 713, c. 472, § 2, emerg. eff. June 7, 2004 (superseded document available).