(a) A local charter school shall be included in the allotment of QBE formula earnings, applicable QBE grants, applicable non-QBE state grants, and applicable federal grants to the local school system in which the local charter school is located under Article 6 of this chapter. The local board and the state board shall treat a conversion charter school no less favorably than other local schools located within the applicable local school system unless otherwise provided by law. The local board and the state board shall treat a start-up charter school no less favorably than other local schools within the applicable local system with respect to the provision of funds for instruction, school administration, transportation, food services, and, where feasible, building programs. (b) QBE formula earnings, applicable QBE grants, applicable non-QBE state grants, and applicable federal grants earned by a local charter school shall be distributed to the local charter school by the local board; provided, however, that state equalization grant earnings shall be distributed as provided in subsection (c) of this Code section. QBE formula earnings shall include the salary portion of direct instructional costs, the adjustment for training and experience, the nonsalary portion of direct instructional costs, and earnings for psychologists and school social workers, school administration, facility maintenance and operation, media centers, additional days of instruction in accordance with Code Section 20-2-184.1 , and staff development. The local charter school shall report enrolled students in a manner consistent with Code Section 20-2-160 ; provided, however, that a local charter school shall certify that all data are correct, including enrollment data and certified personnel information, prior to a local board of education submitting any such data to the state board for purposes of funding. (c) In addition to the earnings set out in subsection (b) of this Code section, local revenue shall be allocated to a local charter school on the same basis as for any local school in the local school system; provided, however, that the calculation of such allocation of local revenue shall be adjusted at least semiannually based upon collected local revenues. In the case of a start-up charter school, local revenue earnings shall be calculated as follows: (1) Determine the total amount of state and local five mill share funds earned by students enrolled in the local start-up charter school as calculated by the Quality Basic Education Formula pursuant to Part 4 of Article 6 of this chapter including any funds for psychologists and school social workers but excluding 5 percent of system-wide funds for central administration and excluding any categorical grants not applicable to the charter school; (2) Determine the total amount of state and local five mill share funds earned by all students in the public schools of the local school system, including any charter schools that receive local revenue, as calculated by the Quality Basic Education Formula but excluding categorical grants and other non-QBE formula grants; (3) Divide the amount obtained in paragraph (1) of this subsection by the amount obtained in paragraph (2) of this subsection; and (4) Multiply the quotient obtained in paragraph (3) of this subsection by the school system's local revenue. The product obtained in paragraph (4) of this subsection shall be the amount of local funds to be distributed to the local start-up charter school by the local board; provided, however, that nothing in this subsection shall preclude a charter petitioner and a local board of education from specifying in the charter a greater amount of local funds to be provided by the local board to the local start-up charter school if agreed upon by all parties to the charter. Local funds so earned shall be distributed to the local start-up charter school by the local board. Where feasible and where services are provided, funds for construction projects shall also be distributed to the local start-up charter school as earned. In all other fiscal matters, including applicable federal allotments, the local board shall treat the local start-up charter school no less favorably than other local schools located within the applicable school system and shall calculate and distribute the funding for the start-up charter school on the basis of its actual or projected enrollment in the current school year according to an enrollment counting procedure or projection method stipulated in the terms of the charter. The local school system shall distribute to each local charter school the proportionate amount of federal funds for which such local charter school is eligible under each federal program, including, but not limited to, funds earned pursuant to Title I, Title II, and Title III of the federal Elementary and Secondary Education Act and pursuant to the federal Individuals with Disabilities Education Act; provided, however, that a local charter school and a local board of education may mutually collaborate and agree upon specific ways for some or all of the charter school's proportionate amount of federal funds to be provided by the local school system through in-kind services, with the terms of such mutual agreement to be included in the charter. Local charter schools shall use any federal funds received pursuant to this subsection for the purposes of the federal program for which they were earned. (c.1) The adjustments in each program for training and experience used in calculating the start-up charter school's QBE formula earnings shall be calculated in the same manner as for any local school within the local school system; provided, however, that the adjustments in each program for training and experience used in calculating the start-up charter school's QBE formula earnings shall not be less than one-half of the comparable percentages for the local school system in which the charter school is located (c.2) For newly approved local charter schools, including charter renewals, the local board of education may retain an amount of the charter school's per pupil share of state and local funding not to exceed 3 percent of the total funds earned by the charter school to reimburse the local school system for administrative services actually provided to the charter school, subject to the following conditions: (1) Any funds retained pursuant to this subsection shall be spent solely and directly on expenses incurred by the local school system in performing the duties required by this article and State Board of Education rules and regulations with respect to local charter schools; (2) The local school system shall itemize and assign a value to such administrative services actually provided to the local charter school; and (3) The unspent portion of such retained funds shall be refunded to the local charter school no later than June 30 each year. (c.3) (1) Each local board of education that has one or more local charter schools shall provide each local charter school with a preliminary annual allotment sheet itemizing the preliminary calculation of state, local, and federal allocations to be provided by the local school system to the local charter school for the upcoming fiscal year not later than 45 calendar days after the local school system receives its preliminary annual allotment sheet from the Department of Education. (2) The local board of education shall publish in a prominent location on its website the calculation of earnings to each local charter school made pursuant to subsections (a), (b), and (c) of this Code section, including federal funds received by each local charter school. Such calculations shall be published as soon as practicable prior to the distribution of funds to the local charter school by the local board, and no later than October 1 of each year, and shall be updated: (A) Upon receipt of any additional federal funds received pursuant to state reallocation of federal funds and distributed to local charter schools; and (B) At least semiannually based upon collected local revenues. Such calculations may be published in conjunction with the financial and transparency information required to be published by local boards of education pursuant to Part 3B of Article 2 of Chapter 14 of Title 20. In the event that the Department of Education makes such calculations available on its website, a local board of education may post a link in a prominent location on its website to the Department of Education's web page which contains such calculations to comply with this subsection. (3) In the event that the local board of education determines that an adjustment to the allocation for a local charter school is necessary, including, but not limited to, adjustments as provided for in subparagraph (B) of paragraph (2) of this subsection, the local board of education shall provide the local charter school with 30 days' notice before the allocation is adjusted, shall provide an amended itemized allotment sheet to the local charter school, and shall publish the amended itemized allotment sheet in a prominent location on its website. (d) (1) Effective July 1, 2012, except as otherwise provided in paragraph (2) of this subsection, the department shall pay to each state chartered special school through appropriation of state funds an amount equal to the sum of: (A) (i) QBE formula earnings and QBE grants earned by the state chartered special school based on the school's enrollment, school profile, and student characteristics. For purposes of this subparagraph, the term "QBE formula earnings" means funds earned for the Quality Basic Education Formula pursuant to Code Section 20-2-161 , including the portion of such funds that are calculated in accordance with Code Section 20-2-164 . QBE formula earnings shall include the salary portion of direct instructional costs, the adjustment for training and experience, the nonsalary portion of direct instructional costs, and earnings for psychologists and school social workers, school administration, facility maintenance and operation, media centers, additional days of instruction in accordance with Code Section 20-2-184.1 , and staff development, as determined by the department; and (ii) A proportional share of earned state categorical grants, non-QBE state grants, transportation grants, school nutrition grants, and all other state grants, except state equalization grants, as determined by the department; (B) The state-wide average amount of the total revenues less federal revenues less state revenues other than equalization grants per full-time equivalent for all school systems; provided, however, that, if the average amount of the total revenues less federal revenues less state revenues other than equalization grants per full-time equivalent for the local school systems that comprise the attendance zone of the state chartered special school is less than the state-wide average amount of the total revenues less federal revenues less state revenues other than equalization grants per full-time equivalent for all school systems, the state chartered special school shall receive the greater of: (i) The average amount of the total revenues less federal revenues less state revenues other than equalization grants per full-time equivalent for the local school systems that comprise the attendance zone of the state chartered special school; or (ii) The average amount of the total revenues less federal revenues less state revenues other than equalization grants per full-time equivalent for the lowest five school systems ranked by assessed valuation per weighted full-time equivalent count, as determined by the department; and (C) (i) For brick-and-mortar state chartered special schools, the state-wide average total capital revenue, excluding local revenue bonds, per full-time equivalent, as determined by the department or the capital revenue per full-time equivalent for the local school system where the brick-and-mortar state chartered special school is located, whichever is greater; and (ii) For state chartered special schools that offer virtual instruction, an amount equal to 25 percent of the state-wide average total capital revenue per full-time equivalent if such school provides computer hardware, software, associated technical equipment, and ongoing maintenance required and necessary for its students to participate in such virtual instruction. (2) In the event that a state chartered special school offers virtual instruction, the amount of funds received pursuant to subparagraph (B) of paragraph (1) of this subsection shall be equal to two-thirds of such calculated amount; provided, however, that this two-thirds amount may be increased by any amount up to the originally calculated amount in the discretion of the department if relevant factors warrant such increase. (3) For purposes of this subsection, the terms: (A) "Assessed valuation" is defined as 40 percent of the equalized adjusted property tax digest reduced by the amount calculated pursuant to subsection (g) of Code Section 20-2-164 . (B) "Assessed valuation per weighted full-time equivalent count" is defined as the assessed valuation for the most recent year available divided by the weighted full-time equivalent count for the year of the digest. (4) The department may withhold up to 3 percent of the amount determined pursuant to paragraphs (1) and (2) of this subsection for each state chartered special school for use in administering the duties required pursuant to this article with respect to state chartered special schools, subject to the following conditions: (A) Any amount withheld pursuant to this paragraph shall be spent solely and directly on expenses incurred by the department in performing the duties required by this article with respect to state chartered special schools; (B) The department shall itemize and assign a value to each such duty performed; and (C) The unspent portion of the amount withheld shall be refunded to the state chartered special school no later than June 30 each year. (5) No deduction shall be made to any state funding which a local school system is otherwise authorized to receive pursuant to this chapter as a direct result or consequence of the enrollment in a state chartered special school of a specific student or students who reside in the geographical area of the local school system. (6) Funding for state chartered special schools pursuant to this subsection shall be subject to appropriations by the General Assembly and such schools shall be treated consistently with all other public schools in this state, pursuant to the respective statutory funding formulas and grants. (7) The local board shall not be responsible for the fiscal management, accounting, or oversight of the state chartered special school. The state chartered special school shall report enrolled students in a manner consistent with Code Section 20-2-160 . Any data required to be reported by the state chartered special school shall be submitted directly by the school to the appropriate state agency. Where feasible, the state board shall treat a state chartered special school no less favorably than other public schools within the state with respect to the provision of funds for transportation and building programs. (e) The state board may require a local referendum of the qualified voters in the local school system in which the state chartered special school will be located. Such referendum shall be held at the next regularly scheduled general election or as may otherwise be authorized at an earlier date by the local board or boards of education affected. Such referendum shall be held for the purpose of deciding whether the local board of education shall provide funds from school tax levies to support such state chartered special school or incur bonded indebtedness to support such state chartered special school or both. The ballot question shall be approved by the state board. (f) The local board shall treat a state chartered special school for which the use of funds from local bonded indebtedness and local school tax levies has been approved by qualified voters in the system in accordance with subsection (e) of this Code section no less favorably than other public schools located within the applicable school system. (g) The local board shall not distribute funds from local bond indebtedness and local school tax levies to a state chartered special school unless such use has been approved by qualified voters in accordance with subsection (e) of this Code section. (h) For system charter schools, funds including federal, state, and local revenue shall be distributed to each such school by the charter system in a manner and in such amounts as are provided in the terms of the charter with an objective of maximizing spending at the school level. (i) (1) For purposes of funding students enrolled in a local charter school in the first year of such school's operation, in the first year that an existing local charter school offers a new grade level, or in an upcoming year in which student growth in the existing local charter school is projected to exceed 2 percent if authorized by the charter, and prior to the initial student count, the state board shall calculate and the Department of Education shall distribute the funding for the local charter school on the basis of its projected enrollment according to an enrollment counting procedure or projection method stipulated in the terms of the charter. Such initial funding shall include the adjustments in each program for training and experience. No later than July 1 of each year, the state board shall notify the Department of Education and the Office of Planning and Budget of the funding estimates calculated pursuant to this subsection for any new local charter schools, any new grade levels offered by existing local charter schools, or any existing local charter schools with projected student growth exceeding 2 percent. After the initial student count during the first year of such local charter school's operation, newly offered grade level, or projected student growth exceeding 2 percent and in all years of operation thereafter, each local charter school's student enrollment shall be based on the actual enrollment in the current school year according to the most recent student count. (2) Local boards shall provide state and local funding to local charter schools pursuant to this subsection based on actual student enrollment; provided, however, that a local charter school shall not be entitled to local funding greater than the amount calculated based on the school-wide total enrollment cap as provided in the school's charter. A local charter school that exceeds the enrollment cap provided for in such school's charter by no more than 2 percent shall not be deemed to have exceeded the enrollment cap provisions of such charter. (3) Nothing in this Code section shall be construed to require the Department of Education to conduct more than two student counts per year. (j) Alternative charter schools, as provided for in subsection (l) of Code Section 20-2-154.1 , shall be funded pursuant to this Code section, subject to appropriations by the General Assembly, and such schools shall be treated consistently with all other public schools in this state, pursuant to the respective statutory funding formulas and grants.