10. FINANCES
10.1 Operational funds. The monies
necessary for the operation of the Primary School shall be derived from
registration fees, tuition, capital assessment and, when necessary, special
assessment of the Association membership.
10.2 Budget process. All funds received shall
be used as necessary for the operation, maintenance, and improvement, as well
as to ensure the financial well being of, the Primary School as recommended by
the Director and approved by the Board.
10.3 Application fee. A non-refundable
application fee, recommended by the Director and approved by the Board, shall
be charged to every applicant for admission to the Primary School.
10.4 Book and supply fees. The Primary
School Director shall recommend and the Board approve annual fees for books and
supplies. These fees shall be
payable no later than the first day of the school year.
10.5 Tuition; Board approval; payment procedures and
policies; affect of nonpayment. Tuition is payable, and shall be billed
in accordance with a schedule recommended by the Primary School Director and
approved by the Board. Payment of
the first tuition charge is due when directed by the Board. Remaining payments shall be billed to
each member family no later than the tenth day of each month beginning in
September of each academic year.
Additional charges for each month (e.g., before and after school child
care, milk and juice, field trip expenses) shall be added to the monthly bill
for the month after they are incurred beginning with the October bill. Payments are due no later than the
twentieth day of the billing month, except in those instances when the Director
recommends and the Board approves specific extensions. Any account that exceeds 200 percent of
the average monthly tuition charge for the academic year as of the twentieth of
the billing month, or other date preapproved by the Board, shall be assessed a
late fee. The late fee shall be
prescribed each year in the Association Handbook, and shall be assessed unless
the 200 percent limitation of Section 4.2 is suspended pursuant to Section
7.1.4. Any Association member
whose account remains in arrears, as described herein, on the thirtieth day of
the billing month shall be notified, in writing, that the Board may remove the
members good standing status and suspend Association voting privileges at its
next scheduled meeting. If the
account remains in arrears on the twentieth day of the month following
notification of arrearage, the Board may suspend the members student from
attending the Primary School, as well as the Association members voting
privilege. These sanctions shall
remain in effect until the account and penalty fees are paid in full, or the
Board approves a payment schedule.
10.6 Board directed disenrollment. The Board may direct a students disenrollment for nonpayment of tuition
and fees.
10.7 Returned check fee. The Primary
School Director shall recommend and the Board approve an appropriate service
charge for any returned checks.
10.8 Disenrollment; withdrawal of student policies. The
Primary School Director may recommend and the Board approve appropriate
disenrollment or withdrawal policies and procedures.