Naval Academy Primary School
ARTICLE 10. Finances

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10

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.

 

ByLaws