Lafayette Charter Foundation board meets Thursday to adopt the budgets for the two schools it oversees that are managed by Charter Schools USA.
The board’s meeting begins at 6:30 p.m. at the campus of Lafayette Renaissance Charter Academy, 205 Vienne Lane.
The foundation provides oversight of Lafayette Renaissance and Acadiana Renaissance Charter Academy in Youngsville. Both schools opened in August 2014 and are set to begin their second year of operation with enrollment waiting lists.
The $7.3 million proposed budget for Lafayette Renaissance includes the following expenses: $3.6 million in employee costs; $408,464 in Charter Schools USA management fees; and $1.7 million in debt repayments.
Acadiana Renaissance’s proposed $8.1 million budget includes: $3.7 million in employee costs; $1 million in Charter Schools USA management fees; and $1.6 million in debt repayments.
Last year, both schools took out loans of more than $800,000 to cover costs for equipment, including technology and furnishings.
Enrollment projections at Acadiana Renaissance are higher than at its sister school, and the school boasts a 98 percent retention rate, based on information submitted for the board’s review at Thursday’s meeting. Acadiana Renaissance projects that it will enroll 780 students in the upcoming school year.
Lafayette Renaissance’s budget is based on an enrollment of 687 students. Its budget last year reflected 528 students.
The board’s meetings are open to the public.