UT spending more than $1.3M to launch charter school
Austin Business Journals
August 18, 2003
The University of Texas is spending more than $1.3 million on operating and capital costs to open its charter school in East Austin.
UT administrator Ed Sharpe, chairman of the management board for the University of Texas Elementary School, says about $1 million in university funding was earmarked for capital expenses. More than $300,000 in government and private grant funding is covering startup operating costs, he says.
Most of the school's operating budget will come from an estimated $4,500 per student in state education funding, Sharpe says.
The school employs the equivalent of 10-full time teachers, administrators and other staffers, he says.
The University of Texas Elementary School at 2200 E. Sixth St. will have a first-year enrollment of 118 prekindergarten, kindergarten and first-grade students. Classes are set to start Tuesday.
Second grade will be added in the 2004-05 academic year, with another grade added each year until the school includes prekindergarten through fifth grade. Enrollment eventually is expected to reach 300.
UT envisions the school being a national model for university-based charter schools and for instruction in reading, math, science and social studies.
© 2003 American City Business Journals Inc.