In recent years, competition for K-12 enrollment in Wisconsin among traditional public schools, charter schools, and private schools using the state's voucher programs has intensified. Because elementary and secondary education finance in the state primarily is driven by enrollment, this has presented increasingly difficult fiscal conditions for school districts. In no district is that more the case than in state's largest district, the Milwaukee Public Schools (MPS). This report seeks to clarify the financial relationship between Milwaukee's charter schools and their authorizers. Specifically, it explains the charter school funding process used by Milwaukee's three charter authorizers -- MPS, the University of Wisconsin--Milwaukee (UWM), and the City of Milwaukee; and it analyzes financial impacts for both MPS and its non-instrumentality charter (NIC) schools when they elect to contract with one another. [For the full report, see ED612748.]