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Funding

Pie chart of ISM typical annual expense categories

Our Funding Partnership

As a charter school, ISM receives basic funding from the State of California based on Average Daily Attendance (ADA), as do all California public schools. Unfortunately, this funding does not cover the full cost of providing the quality education that ISM delivers. To cover the gap between state funding and actual spending, ISM turns first to the support of student families through the Family Share Campaign conducted by the ISM Foundation, a nonprofit organization committed to raising funds for the school. The ISM Foundation targets 100 percent participation and asks all ISM families to contribute as much as they can afford. Next, ISM turns to charitable foundations, philanthropic individuals including the ISM board trustees and other committed supporters, and corporate donors. All told, ISM raises about 15 percent of its annual operating budget through these local funding streams, while state and federal funds cover the other 85 percent.

 

Financial Soundness

ISM understands that both public funds and private contributions come with high expectations for sound financial management. To fulfill that trust, the ISM Board of Trustees takes its fiduciary role very seriously by carefully budgeting and monitoring finances, while the school administration follows strict fiscal policies and procedures to ensure maximization of revenues and efficiency in expenses that results in the greatest possible benefit in student learning. ISM opens its books for an annual financial audit conducted by an external firm authorized to conduct school audits by the State Controller's Office. We post the annual budget and audit reports to our Official Documents site. You will also find links to those documents on the left side of this page.

 

Education Protection Account Plan and Reports

ISM assures voters that it wisely spends funds provided by Proposition 30, the Schools and Local Public Safety Protection Act of 2012, within the parameters established by law. The report linked below provides current details.

Education Protection Account Plan and Reports

Last updated July 14, 2014 by director