Charter schools are public schools of choice that operate with freedom from many of the regulations 
that apply to traditional public schools. The charter establishing each such school is a performance contract detailing the school’s mission, program, goals, students served, and methods of assessment.

Charters are granted for a period of up to five years. At the end of the term, the State Board of Education may renew the school’s contract. Charter schools are accountable to the State Board of Education to produce positive academic results and adhere to the charter contract. The basic concept of charter schools is that they exercise increased autonomy in return for this accountability. This autonomy is gained by requesting exemption from Title 6 of the Arkansas Education Code and State Board of Education rules. The charter schools are accountable for both academic results and fiscal practices to several groups: the sponsor that grants them, the parents who choose them, and the public that funds them.