FL S0744

Requires charter school applications to include detailed financial information demonstrating the applicant is financially capable of opening, operating, and maintaining a high-quality charter school, including annual employee compensation projections.

Mandates that charters include requirements for the school to comply with applicable law and its approved application representations, with at least annual reporting and sponsor review of financial operations to ensure employees are not paid unreasonable compensation.

Expands grounds for charter non-renewal or termination to include violation of the charter, insolvency, payment of unreasonable compensation to employees, and unlawful diversion of school funds to private benefit of employees; defines "welfare" to include providing quality education.

Allows charter school governing boards to choose corrective actions when earning failing grades only with sponsor consent, and establishes corrective action as a ground for charter termination if not implemented.

Permits charter school systems meeting specified criteria (including conversion and non-conversion schools in the same county with enrollment exceeding at least one state school district) to be designated as local educational agencies solely for receiving federal funds.