Evaluation of the New Mexico Public School Funding Formula

November 16, 2011 Tthe New Mexico Legislature’s Finance Committee and the Legislative Education Study Committee reviewed the state Public Education Department school funding formula. New Mexico's more than 80 charter schools receive 26% more funding per student than the public schools the students would have attended, an average difference of about $12,220 per charter school student compared to an average of about $9,683 per traditional public school student. The state's charter schools serve more than 13,000 students, about 3.9% of the total 328,591student population. The committees recommended that the funding formula be . . .