Second, legislation has not been the end of the story. Almost ah charter schools have managed, despite formidable challenges, to make ends meet financially. Though legislation set parameters within which charter schools worked, their actions within those constraints had a large effect on outcomes. Before examining schools' actual experiences, I provide a general pic- ture of the financial world in which charter schools function. This sec- tion considers charter schools' costs and revenues.
All charter schools have startup costs and ongoing expenses.
But even charter schools that convert from existing public or private schools face some conver- sion costs. By far the most significant startup expense is the cost of a facility. Schooling requires specialized space, and real estate that is school- ready is scarce in most places. Though facilities costs tend to dwarf other startup expenses, staffing is also expensive. Schools may also need to contract with specialized consultants for various aspects of their prepa- ration.