Abstract: The number of charter schools in Florida has risen steadily, leaving the state ranking just behind California and Arizona in the number of charter schools in operation. In 2004-05, 300 charter schools served over 83,000 students, about three percent of the state’s public school students. In reaction to the rapid growth, the Office of Program Policy Analysis & Government Accountability has begun a series of reports designed to assist the Florida Legislature in its review of charter schools. This first report in the series focuses on the operation of charter schools and offers two key findings: Florida’s charter school application requirements are extensive, but reasonable; and, the lack of accurate and timely financial data makes it difficult for the state Department of Education to identify and provide assistance to schools with troublesome financial situations.