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(3) SUBMISSION OF AUDIT.—Not later than 45
days, or as soon thereafter as is practicable, after the
date on which the Authority receives the initial an-
nual report from the Board of Education under sub-
section (c), the Authority shall submit to the Board
of Education, the Mayor, the District of Columbia
Council, and the appropriate congressional commit-
tees, the audit conducted under this subsection.
(4) COST OF THE AUDIT.—The Board of Edu-
cation shall reimburse the Authority for the cost of the
independent audit, solely from amounts appropriated
to the Board of Education for staff, stipends, and
other-than-personal-services of the Board of Education
by an Act making appropriations for the District of
Columbia.
SEC. 2503. PAYMENTS.
(a) IN GENERAL.—
(1) ESCROW FOR PUBLIC CHARTER SCHOOLS.—
Except as provided in subsection (b), for any fiscal
year, not later than 10 days after the date of enact-
ment of an Act making appropriations for the Dis-
trict of Columbia for such fiscal year, the Mayor shall
place in escrow an amount equal to the aggregate of
the amounts determined under section 2501(b)(1)(B)
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for use only by District of Columbia public charter
schools.
(2) TRANSFER OF ESCROW FUNDS.—
(A) INITIAL PAYMENT.—Not later than Oc-
tober 15, 1996, and not later than October 15 of
each year thereafter, the Mayor shall transfer, by
electronic funds transfer, an amount equal to 75
percent of the amount of the annual payment for
each public charter school determined by using
the formula established pursuant to section
2501(b) to a bank designated by such school.
(B) FINAL PAYMENT.—
(i) Except as provided in clause (ii),
not later than May 1, 1997, and not later
than May 1 of each year thereafter, the
Mayor shall transfer the remainder of the
annual payment for a public charter school
in the same manner as the initial payment
was made under subparagraph (A).
(ii) Not later than March 15, 1997,
and not later than March 15 of each year
thereafter, if the enrollment number of a
public charter school has changed from the
number reported to the Mayor and the
Board of Education, as required under sec-
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tion 2502(a), the Mayor shall increase the
payment in an amount equal to 50 percent
of the amount provided for each student
who has enrolled in such school in excess of
such enrollment number, or shall reduce the
payment in an amount equal to 50 percent
of the amount provided for each student
who has withdrawn or dropped out of such
school below such enrollment number.
(C) PRO RATA REDUCTION OR INCREASE IN
PAYMENTS.—
(i) PRO
RATA
REDUCTION.—If the
funds made available to the District of Co-
lumbia Government for the District of Co-
lumbia public school system and each public
charter school for any fiscal year are insuf-
ficient to pay the full amount that such sys-
tem and each public charter school is eligi-
ble to receive under this subtitle for such
year, the Mayor shall ratably reduce such
amounts for such year on the basis of the
formula described in section 2501(b).
(ii) INCREASE.—If additional funds
become available for making payments
under this subtitle for such fiscal year,
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amounts that were reduced under subpara-
graph (A) shall be increased on the same
basis as such amounts were reduced.
(D) UNEXPENDED FUNDS.—Any funds that
remain in the escrow account for public charter
schools on September 30 of a fiscal year shall re-
vert to the general fund of the District of Colum-
bia.
(b) EXCEPTION FOR NEW SCHOOLS.—
(1) AUTHORIZATION.—There are authorized to be
appropriated $200,000 for each fiscal year to carry
out this subsection.
(2) DISBURSEMENT TO MAYOR.—The Secretary
of the Treasury shall make available and disburse to
the Mayor, not later than August 1 of each of the fis-
cal years 1996 through 2000, such funds as have been
appropriated under paragraph (1).
(3) ESCROW.—The Mayor shall place in escrow,
for use by public charter schools, any sum disbursed
under paragraph (2) and not paid under paragraph
(4).
(4) PAYMENTS TO SCHOOLS.—The Mayor shall
pay to public charter schools described in paragraph
(5), in accordance with this subsection, any sum dis-
bursed under paragraph (2).
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(5) SCHOOLS DESCRIBED.—The schools referred
to in paragraph (4) are public charter schools that—
(A) did not operate as public charter schools
during any portion of the fiscal year preceding
the fiscal year for which funds are authorized to
be appropriated under paragraph (1); and
(B) operated as public charter schools dur-
ing the fiscal year for which funds are author-
ized to be appropriated under paragraph (1).
(6) FORMULA.—
(A) 1996.—The amount of the payment to
a public charter school described in paragraph
(5) that begins operation in fiscal year 1996
shall be calculated by multiplying $6,300 by 1⁄12
of the total anticipated enrollment as set forth in
the petition to establish the public charter school;
and
(B) 1997 THROUGH 2000.—The amount of
the payment to a public charter school described
in paragraph (5) that begins operation in any
of fiscal years 1997 through 2000 shall be cal-
culated by multiplying the uniform dollar
amount used in the formula established under
section 2501(b) by 1⁄12 of the total anticipated
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enrollment as set forth in the petition to establish
the public charter school.
(7) PAYMENT TO SCHOOLS.—
(A) TRANSFER.—On September 1 of each of
the years 1996 through 2000, the Mayor shall
transfer, by electronic funds transfer, the amount
determined under paragraph (6) for each public
charter school from the escrow account estab-
lished under subsection (a) to a bank designated
by each such school.
(B) PRO RATA AND REMAINING FUNDS.—
Subparagraphs (C) and (D) of subsection (a)(2)
shall apply to payments made under this sub-
section, except that for purposes of this subpara-
graph references to District of Columbia public
schools in such subparagraphs (C) and (D) shall
be read to refer to public charter schools.
Subtitle F—School Facilities Repair
and Improvement
SEC. 2550. DEFINITIONS.
For purposes of this subtitle—
(1) the term ‘‘facilities’’ means buildings, struc-
tures, and real property of the District of Columbia
public schools, except that such term does not include