COBI 2015 - Charter School Revolving Account

Overview
Issues
Performance
Financials

Sources Uses

FY 2016 Appropriation

The Charter School Revolving Account was set up for charter schools to apply for loans and pay these loans back at favorable interest rates. The average loan within this account is five years. There is a committee that reviews and approves the loan applications.

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $1,590,100 from all sources for Charter School Revolving Account. This is a 6.9 percent increase from Fiscal Year 2015 revised estimated amounts from all sources.

Display By:

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Programs	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Charter School Revolving Account	0	0	0	2,172,000	0	1,487,300	1,487,300	102,800	1,590,100
Total	$0	$0	$0	$2,172,000	$0	$1,487,300	$1,487,300	$102,800	$1,590,100

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Interest Income	0	0	0	59,100	137,800	(68,100)	69,700	(23,500)	46,200
Repayments	0	0	0	2,112,900	49,000	1,556,300	1,605,300	(61,400)	1,543,900
Beginning Fund Balance	0	0	0	6,553,300	6,494,200	59,100	6,553,300	187,700	6,741,000
Ending Fund Balance	0	0	0	(6,553,300)	(6,681,000)	(60,000)	(6,741,000)	0	(6,741,000)
Total	$0	$0	$0	$2,172,000	$0	$1,487,300	$1,487,300	$102,800	$1,590,100

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Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Other Charges/Pass Thru	0	0	0	2,172,000	0	1,487,300	1,487,300	102,800	1,590,100
Total	$0	$0	$0	$2,172,000	$0	$1,487,300	$1,487,300	$102,800	$1,590,100

COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.