The contract proposal for Peoria District 150 and its only charter school includes a 23 percent funding increase the first year.
That accounts for the addition of about 65 more students next year. They are the last class to round out the Quest Charter Academy middle and high school.
But PSD 150 Chief Financial Officer Mark Wilcoxen says Quest will still receive 85 percent of the district’s per pupil state funding.“The concept is that as our general state aid changes, the funding for Quest will also change," Wilcoxen says. "If our general state aid increases, their funding will increase. If our general state aid decreases, their funding will decrease.”
Adjustment to the District funding of Quest will also be made if enrollment levels aren’t reached. The agreement also forgives the $210,000 remaining loan balance on Quest’s purchase of Loucks and Columbia Schools.
The District 150 School Board is slated to vote on the contract with Quest Charter Academy at the February 9th meeting.