Abstract: This annual report provides information on student enrollment, student performance, and finance issues for the 61 charter schools in operation in New York during the 2004-05 school year. It found that the majority of charter schools outperformed their districts. For example, 76 percent of charter schools outperformed their district on the 2005 4th grade math exam and 67 percent of charter schools outperformed their district on the 2005 8th grade math exam and 8th grade English Language Arts test. The state's charter schools are making significant gains on state assessments as well. Charter schools increased performance on the state's 4th grade English Language Arts exam at almost two times the average gain of all schools across the state (16.8% gain vs. 8.8% gain). The report also examined fiscal impact on districts and found that impact was negligible in New York City, but greater in areas such as Albany.