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| CFDA Number: | 84.354A - Charter Schools Facilities Program |
| Program Goal: Increase the number of charter school facilities acquired, constructed or renovated. |
| Objective 1 of 2: Increase funds available for the acquisition, renovation, or construction of charter school facilities. |
| Indicator 1.1 of 1: Leveraged funds: The amount of funding grantees leverage for the acquisition, renovation, or construction of charter school facilities. |
Source: Grantee Performance Report, Charter School Facilities Grantee Performance Report. Frequency: Annually. Next Data Available: January 2006 Data Validated By: No Formal Verification. Limitations: These multi-year grants received all the funding at the beginning of the first project period. As no reports are required for continuation funding, grantees were given a full year of performance before reporting data. Explanation: We did not meet our target for 2004. Baseline data were collected in 2003. We reported initially that the 2003 baseline was $99 million; that was revised in 2004 to $105 million but corrected data established our actual performance for 2003 at $66 million. Subsequently, our actual performance 2004 of $70 million was revised to $74 million. Definition of Leverage: The number of dollars (in millions) leveraged consists of the dollar amount raised (versus the amount contributed to the financing from the grant) as a direct result of the guarantee. If the grantee received a non-Department of Education grant (including a New Markets Tax Credit allocation) and is using it to provide additional leveraging for a school served by the federal grant, funds leveraged from these other funds may also be counted as funds leveraged by the federal grant. A grantee may count senior debt toward the total amount of funds leveraged if it uses grant funds to guarantee or insure subordinate debt but not the senior debt to which it is tied. Likewise, grantees may count subordinate debt toward the total amount of funds leveraged if it only uses grant funds to credit-enhance senior debt. |
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| Objective 2 of 2: Increase the number of charter schools facilities acquired, constructed or renovated. |
| Indicator 2.1 of 1: The number of charter schools served through this indicator. |
Source: Grantee Performance Report, Charter School Facilities Grantee Performance Report. Frequency: Annually. Next Data Available: January 2006 Data Validated By: On-Site Monitoring By ED. Explanation: The FY 2004 actual figure indicates that the program served 32 schools, exceeding the target of 20 schools by an additional 12 schools. This was due largely to the fact that some of the organizations that received grant funds in fiscal years 2003 and 2004 were able to serve schools. |
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