Charter schools are non-exclusive public schools that operate without many of the regulations that apply to traditional public schools. Each "charter" is a performance agreement pertaining to the school's goals, program, mission, students served, evaluation methods, and techniques used to measure success. Charters are typically granted for 3-5 years. When the term expires, the charter may be renewed by the body granting the charter.
In most cases, a state or local school board is a charter school's sponsor. The school is responsible for producing affirmative academic results and adhering to the charter contract. Charter schools are structured around the basic premise that they operate with increased autonomy in return for this responsibility. Charter schools are responsible for academic accomplishments and financial practices to the sponsor that provides the grant, the public that provides the funding and the parents who send their children to them.