Charter School Revolving Loan Fund Program (CSRLF) Webinar · 24.01.2018 · Overview Effective...
Transcript of Charter School Revolving Loan Fund Program (CSRLF) Webinar · 24.01.2018 · Overview Effective...
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Charter School Revolving Loan Fund Program (CSRLF) Webinar
January 24, 201810:00-11:00 a.m.
California School Finance Authority (CSFA)
• For technical issues, contact GoToWebinar (GoToMeeting) at 1-800-263-6317 or http://support.citrixonline.com/gotomeeting/
• Live captioning is available at www.streamtext.net/text.aspx?event=CDIAC
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CSFA Presenters:
Katrina Johantgen – Executive Director
Steven Theuring – Lead Analyst
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Introductions
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Agenda Overview
Eligibility
Funding Round Updates
Application Overview
Application Submission
Review Process
Funding Process
Future Plans
Contact Info
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Overview Effective July 1, 2013, CSFA began oversite of the program.
CSRLF is a state-funded loan program that provides low-
interest loans of up to $250,000 to new charter schools.
CSFA has awarded $37.8 million to 153 charters.
Pooled Money Investment Account (PMIA )average annual
yield for 2016-17 was 0.754%.
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Overview Loan Uses-
Expenses a brand new charter school may incur, such as, teacher salaries, curriculum, furniture, etc.
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Eligibility Charter School or a
Chartering Authority
Established pursuant to
Education Code
Charter approval
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Charter School Revolving Loan Fund Program Regulations: Section 10170.18. (a)-(k)
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Eligibility Articles of Incorporation
(if independent)
Not a conversion
Has not had its charter
renewed
No material legal issues
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Eligibility Has not received $250,000
In compliance with all CSFA programs
In good standing with its charter
authorizer
Application must be complete
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Funding Round Updates
2016-17 - Awarded $8.48 million to
34 schools
Priority of funds go to new charters
2017-18 - Approximately $8 million
available to award 32 schools
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Application Overview Loan application & FAQ’s are available on CSFA’s website at
http://www.treasurer.ca.gov/csfa/csrlf/index.asp
7 pieces of the application
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Create Account with CSFA
All applicants will need to create a login with password.
Once created, a confirmation email will be sent to your
email to verify the account.
Once verified, you may sign in and start the application
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New School or Existing School? After logging in, and selecting the open application link,
you will then be directed to the first page of the online app.
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Application Overview
1.) Page 1, the actual
application
• Provide an answer for each
box. (If available)
• Please provide your best
projection if you are
unsure of the answer.
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Application Overview
2.) Page 2, Part 1 - Charter
School Questions
Upload a document for Option
A or B
Check an answer for each
box.
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Application Overview
2.) Page 2, Part 2- Charter
School Questions
Check an answer for each
box.
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Application Overview
3.) Page 3, Written Request Describe the Charter
School’s financial need and the planned uses for the loan proceeds.
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Application Overview4.) Page 3, Operational
Documentation Provide each item.
Items should be submitted as a PDF (text readable) document.
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Application Overview
5.) Page 4, Financial
Documentation Provide each item
Items should be submitted as PDF (text readable) documents.
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Application Overview
5.) CONTINUED: Item b.
Excel Budget.
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Application Overview
6.) Page 5, Signed Legal Status
Questionnaire Please fill out entire
document. If more space is needed
for your response, please provide it on a separate document.
Please submit a signature copy
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Application Overview7.) Page 5, Signed Application
Certification Applicant should pick
which ever option (A OR B) is appropriate for their school
An authorized signatory from the school should sign
Please submit a signature copy
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Application Submission The school should submit:
A) Online application OR
B) one hard copy application with original signature
C) one copy of the signed application and copies of all supporting documents on a CD-ROM or flash drive
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Application Submission
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Deadline is Friday, February 28th by 5PM.
Submit to either the Sacramento OR Los Angeles Office.
Sacramento Office:
915 Capitol Mall, Suite 101
Sacramento, CA 95814
Los Angeles Office:
300 S Spring Street, Suite 8500
Los Angeles, CA 90013
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Review Process
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Notice of received application
Priority 1 school review (Schools opening in Fall 2018)
If funds are still available after Priority 1 approvals, Priority
2 schools will be reviewed (Schools already in operation)
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Funding Process
1.) Loan Recommendations go to CSFA Board for approval
(Between May and August)
2.) Schools are to execute CSFA loan agreement &
governing board resolution
3.) CSFA initiates loan disbursement process
4.) School receives loan proceeds (Within 4-6 weeks)
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Contact InformationSteven Theuring, Analyst(916) 651-7713
CSRLF Review StaffSteven Theuring (Sac)
Robert Biegler (LA)Ryan Storey (LA)
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