Financial Sustainability

Characteristic 3: The residency system is financially sustainable.

The Characteristics and Evidence of an Effective California Teacher Residency Program (the Characteristics) serve as a common framework for teacher residencies in the state. They exemplify the scope and complexity of the development of teacher residency programs by which all partnerships can define and develop their program implementation.

The following evidence-based indicators should be used for each level of residency development. 

• Program costs include resources and personnel necessary for effective implementation

• Incentives (i.e., resident, mentor stipends) are defined and tied to the value of the residency program to the LEA (Resident Contract)

• 3–5-year strategic plan exists, tied to mission, vision, theory of change, and long-term budget

• Long-term budget projection is defined, including increasing cost savings to the LEA

• Long-term commitment by all partners to contribute the necessary resources to operationalize the program

• All available funding sources are examined and accessed

• Revenue sources are diverse