California Code of Regulations › Title 4 - Business Regulations › Division 15 - California School Finance Authority › Article 2 - 2004 and 2009 State Charter School Facilities Incentive Grants Programs › Section 10188 - Release of Funds

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) No
				grant funds shall be released until the grant agreement and supporting
				attachments have been provided and it has been determined by the Authority that
				the charter school continuously meets the requirements of the grant program.
Applicants shall be afforded three options for disbursement
				  of grant funds, depending on the use of the grant award:
(1) Option One: Base Rent/Debt
				Service/Proposition 39 pro-rata payments. Under the first option, charter
				schools shall apply monthly disbursements of grant funds toward the eligible
				monthly costs of rentor debt service payments over a three-year period, if such
				costs are sufficiently documented to the Authority's satisfaction.
(A) Grant fund awards shall be released on
				the dates listed in the grant agreement.
(B) All disbursements of Grant fund awards
				shall be processed according to the schedule established by the
				Authority.
(C) All subgrantees
				shall submit documentation of continued eligibility on a semi-annual basis
				during the months of February and August.
(D) Documentation of continued eligibility
				shall include, but not be limited to, copies of the current charter and current
				lease(s); verification of any changes to the subgrantee's name, project,
				project location, or facility costs; executed amendments to the grant
				agreement, when appropriate; and verification and/or status of pending or
				threatened legal issues or investigations.
(E) Documentation of continued eligibility
				shall require verification the subgrantee charter school is continuously in
				good standing with its chartering authority and continuously in compliance with
				the terms of its charter without interruption throughout the term of the grant.
				The Authority will rely on information from the chartering authority regarding
				the school's good standing and compliance with the terms of its charter.
				Charter schools may appeal any response by the chartering authority's staff
				directly to the chartering authority's governing board. It shall be the charter
				school's responsibility, and not the Authority's, to ensure that the good
				standing and compliance response letter is received by the relevant
				deadline.
(F) Documentation of
				continued eligibility shall require submission of a completed LSQ (as may be
				amended from time to time) disclosing information relating to any legal or
				regulatory proceedings or investigations in which the subgrantee or its
				parent/subsidiary/affiliate is or has been a party and which might have a
				material impact on the financial or educational viability of the charter
				school. The responses to the LSQ and all supporting documents related to the
				responses will be reviewed by Authority staff and legal counsel prior to
				authorizing additional disbursements of grant funds.
(G) Documentation of continued eligibility
				must be received and approved by the Authority on or before February 28 and
				August 31 of each year in order for the Authority to release a
				disbursement.
(H) Failure to meet
				the February 28 or August 31 deadline shall result in the subgrantee being
				declared ineligible to receive the first monthly disbursement of the respective
				semi-annual disbursement period. The forfeited funds cannot be disbursed
				retroactively and will immediately revert back to the Authority.
(I) If the required documentation is not
				received and approved by the Authority within 30 calendar days following the
				February 28 and August 31 deadline, the subgrantee shall be declared ineligible
				to receive the remaining five monthly disbursements for the respective
				semi-annual disbursement period. The forfeited funds cannot be distributed
				retroactively and will immediately revert back to the Authority.
(J) Failure to meet the semi-annual deadlines
				consecutively and provide documentation within 30 calendar days from each
				deadline shall result in the subgrantee being declared ineligible to receive
				all remaining disbursements under the grant program. The forfeited funds will
				immediately revert back to the Authority.