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For complete transparency, we’ve provided a detailed breakdown of Meridian’s finances. Explore how we allocate resources, manage funds, and ensure every dollar is invested in providing the best education for our students.
Each year, Chicago Public Schools rates all charter schools on several key metrics of financial health.
FY22 Meridian Charter Schools Fiscal Scorecard
Our most recently completed fiscal year was FY23, which ended on June 30, 2023. Our total budget in FY23 was approximately $30.6M. We are projecting a similar budget total in FY24.
The Meridian fiscal year runs from July 1 to June 30 of the following year.
Meridian Charter Schools is a school management organization (SMO). Meridian Charter Schools has a management agreement with CICS foundation to serve as an SMO. Under these management agreements, CICS is responsible for monitoring the performance of the SMOs and ensuring that Meridian Charter Schools is operating in compliance with the Charter School Agreement, overseeing all compliance with Chicago Public Schools, local, state, and federal rules and regulations, overseeing lottery and enrollment, providing the school facilities at the Campuses, and providing facility improvements and capital repairs.
Meridian Charter Schools is responsible for providing a complete educational program—including the management and administrative services necessary—to implement and operate, and is also responsible for providing regular maintenance, custodial, and security services to the campus facilities with the oversight of CICS. Meridian Charter Schools is a non-for-profit organization.
The linked information breaks down the various sources of our revenue for each of our campuses. The majority of CICS funding is publicly funded via city, state, and federal funding, mostly based on per-pupil formulas, as well as our student poverty index. About 2% of our funds are privately raised; we receive minimal amounts from student fees and other sources.
All costs associated with the teachers and administrators who run the school, including benefits and payroll taxes.
All costs related to maintaining our campus buildings such as rent, insurance, maintenance, etc.
All costs related to supporting our campuses with services such as human resources, student recruitment and enrollment, staff recruitment and retention, accounting and auditing, technology, communications, operations, etc.
All costs related to curriculum, classroom supplies, educational materials, etc
Related to enrichment opportunities, special events (graduation, prom, etc.), student incentives, etc.
Capital Expenses are large investments we make in our facilities, equipment and technology - e.g. boiler replacement, HVAC unit upgrades, roofing, and parking lot repairs.
Please email contact@meridiancharterschools.org and we will send the file(s) to you within five business days during the academic year. Please expect a delay during school breaks when staffing is minimal.
P: (312)-733-6790
F: (312) 733-8470