TEA News Release 2

    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

    Sponsoring Entity

    Location

    BASIS San Antonio

    BTX Schools, Inc.

    San Antonio

    Ben Yehuda Academy

    The Eleanor Kolitz Academy

    San Antonio

    C.O.R.E. Academy

    Generations of Life Foundation

    Houston

    Dallas Scholars Charter School

    Lone Star Scholars Foundation

    Dallas County

    Great Hearts Academy - San Antonio

    Great Hearts America Texas

    San Antonio

    International Leadership of Texas

    International American Education Federation Inc.

    Dallas County

    The Pro-Vision Academy

    Pro-Vision Educational Services, Inc.

    Houston

    Village Tech Schools

    Duncanville Church of Christ, Inc.

    Dallas County

     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). 

     

     

     

     

    Page last modified on 11/28/2012 01:41:20 PM.