At our June 2020 Board meeting Mill Falls Board of Trustees unanimously approved our Fiscal Year 2021 Operating Budget. As you will see we when you review the budget we are facing a deficit in our upcoming fiscal year (please click here to view). We expect to have a deficit each year because of the charter funding model, which is why we depend so heavily on the support from our families and the greater community. Through partnership and fundraising efforts by the School and Foundation and through other income generating programs, we are projecting to once again meet the deficit mapped out in this budget.
Like all charter schools in our state, Mill Falls receives a set, per-student amount from the State of New Hampshire which is called Equitable Aid. This state aid is built in to the state’s legislative budget. This line item is the main income source on our operating budget. State-issued charter schools like ours only receive about half of what traditional public schools in our state receive. Also of note, we do not receive any funding from the Manchester School District or the City of Manchester.
Like all NH charter schools we are expected to fundraise the dollars needed to make up the difference between the Equitable Aid and the cost of our educational program. We work with members of our school community and with supporters and funders from outside of our school to help us meet our funding goals each year.
By working together we raise funds to cover our current and future deficits, to ensure that our school is fiscally secure for years to come.
To that end, if you have not yet joined our Monthly Giving Program or contributed financially to Mill Falls, we ask you to consider doing so. Please click here to learn more. Working together to address our funding issues will strengthen our core and bolster our ability to provide the children and their teachers with what they need to succeed. Thank you!