Looking at the annual audits of charter schools I found details of each of the school's rental leases. I thought some readers might be interested to know where some, or a lot, of the funding goes towards to. Charter schools are independent public schools funded by taxpayers.
Central Jersey Arts Charter School--$655,319.00
RENTAL LEASE
The school entered into a four (4) year lease commencing September 1, 2006 and expiring September 1, 2010 to lease classroom and office space at 35 - 37 Watchung Avenue, Plainfield, New Jersey. On September 1, 2008 the School modified the existing lease into a seven (7) year lease commencing September 1, 2008 and expiring September 15, 2015 to lease additional classroom and office space at 35 - 37 Watchung Avenue and 7-9 Watchung Avenue, Plainfield, New Jersey. Total lease payments made during the year ended June 30, 2010 amounted to $655,319.
The above information can be found at page 62 of the 2010 school's audit HERE.
Queen City Academy CS--$329,000.00
NOTE 6:
RENTAL LEASES (page 65, QCA audit)
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The lease requires annual rental payments of $333,600 and a proportionate share of utilities. Total rental payments amounted to $329,000 for the year ended June 30, 2010.
Union County TEAMS CS--$475,274.00
NOTE 6:
RENTAL LEASE (page 58, school's audit)
The Charter School is currently in a lease agreement for classroom and office space with Shiloh Baptist Church for the facilities located at 515-517 West 4th Street, Plainfield, New Jersey. The lease requires a security deposit of $20,000. Lease payments for the year amounted to $311,007 $311,007. The lease was extended for one (1) year ending June 30, 2011 for a base annual rental of $412,873 and $62,401 for
building maintenance.
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