TEA News Releases Online
Nov. 16, 2012
SBOE approves eight new charter schools
AUSTIN – The State Board of Education (SBOE) today approved the creation of eight new open-enrollment charter schools and approved a $1.6 billion payout from the Permanent School Fund for the 2014-2015 fiscal years.
Charters are public schools that have been freed from some regulations. The new charters were chosen during a competitive process that began in February.
The following entities were awarded five-year contracts for charters:
Proposed School Name
BASIS San Antonio
BTX Schools, Inc.
Ben Yehuda Academy
The Eleanor Kolitz Academy
Generations of Life Foundation
Dallas Scholars Charter School
Lone Star Scholars Foundation
Great Hearts Academy - San Antonio
Great Hearts America Texas
International Leadership of Texas
International American Education Federation Inc.
The Pro-Vision Academy
Pro-Vision Educational Services, Inc.
Village Tech Schools
Duncanville Church of Christ, Inc.
The new schools are expected to open in fall 2013.
The board also voted to establish a 3.3 percent distribution rate to the Available School Fund from the Permanent School Fund. This generates a $1.6 billion payout from the fund for the 2014-2015 fiscal years. This money will ultimately be used for the purchase of instructional materials and general education funding.
“The State Board of Education is proud that its prudent investment strategies will generate $1.6 billion for our public schools and that it did so despite a rather rocky and difficult period in the market,” said Barbara Cargill, state board chair.
The funds will be sent to the Legislature where state law dictates that 50 percent of this funding shall be placed in the instructional materials allotment, which can be spent on textbooks, other instructional materials and technology. The remaining funds are distributed to school districts and charters on a per pupil basis.
This new payout rate is the equivalent of a 3.62 percent rate in previous years because a Constitutional Amendment broadened the base from which the distribution is made. Distributions are now calculated to include assets managed by the SBOE as well as the discretionary assets and cash managed by the General Land Office.
Friday’s meeting marked the last board meeting for eight departing SBOE members who collectively have provided 68 years of service on the board.
The members and their years of service on the board are:
- Mary Helen Berlanga of Corpus Christi (30);
- Terri Leo of Spring (10);
- Gail Lowe of Lampasas (10);
- Bob Craig of Lubbock (10);
- Charlie Garza of El Paso (2);
- Michael Soto of San Antonio (2);
- Marsha Farney of Georgetown (2);
- and George Clayton of Richardson (2).