FINANCIAL INFORMATION (Revised 7/13)
The following information explains the financial commitments that are involved in sending your student to our school. We feel that the rates are fair, but any cost is high when public education is available at no charge. Please be assured that all funds are carefully used and not wasted. We do so much with so little. Your sacrifice is appreciated by us, but will be appreciated by your child even more once they are grown. Because we are a "Not for Profit" school and accept no money from the government, the school's financial health is in your hands.
Tuition and Daycare payments may be paid in one of two methods for the 2013-2014 school year.
FIRST: Parents may choose to pay on "Annual Advance Payment" by February 28th, 2013. Under this method, Calvary Christian School discounts the normal tuition by the market interest rate at the time tuition rates are set (normally January). We accept "Advance Payments" to provide cash flow for large projects and improvements, as well as summer operating expenses. Thus, this method of payment benefits both parents and Calvary Christian School. Because tuition is discounted under this option, Calvary Christian School will limit payments received on an "Advance Basis" to $50,000 for the 2013-2014 school year. This will be done on a first come - first allowed basis. Because this year's amount has been reduced compared to previous years, we encourage parents that wish to receive the "advance pay" discount to register early.
SECOND: All families that do not pay an "Advance Payment" may pay on a monthly basis. The annual tuition/daycare may be paid on a ten or twelve month basis (see chart on following page) by automated bank draft. We have retained the service of Evangelical Christian Credit Union or another financial institution through the use of their ACH to manage our "Draft program." Under this program, the set amount of your tuition/daycare fees will be withdrawn electronically from your checking account on either the 1st, 5th, 10th, or 20th of each month. This is becoming a very common mode of payment and has been used for many years by banks for car loans and insurance companies for premium collection. By using the ACH payment method, the administration of Calvary Christian School hopes to eliminate uncollectible tuition/fees due the school. It will also help our school manage its cash flow on a more effective basis. The proper ACH Authorization form is enclosed in your registration material and is required with an Initial Registration Application. We do not accept payment by check with a monthly invoice. All monthly payments must be made using the ACH method.
Returned ACH (NSF or other) $30.00
Change of Draft Date/Amount $ 5.00
Statement Charge Fee $5.00 per Miscellaneous Charge
Notice Regarding Cash Payments
In order to provide accounting integrity, our faculty is not authorized to accept cash for payment of any fees due Calvary Christian School. Please write a check, purchase a money order, or authorize an additional ACH withdraw as a means of paying fees and charges due the school.
Notice Regarding Daycare Charges
Daycare is provided by Calvary Christian School to facilitate a child being able to attend Calvary Christian School. Parents who have their student in daycare must pick them up by 4:45 if the student is enrolled in Class 1 PM Care OR 6:30 PM if the child is enrolled in Class 2 PM Care. Prompt pick-up is mandatory so that our day care staff can go home and take of their own families. An assessment of $5.00 for each fifteen minutes or part of 15 minutes a student is picked up beyond the 4:45 or 6:30 assigned time. These charges will be billed to a student’s account plus a $5 statement charge fee for each day that a late pick-up occurs. These fees are not intended to convey that picking a child up after the assigned time is in any way acceptable. Repeated late arrivals will result in removal of daycare availability for that family. Please be sure that you use daycare in the appropriate manner.
Notice Regarding Daily Lunch Charges
We realize that a student may forget their lunch or lunch ticket. The first lunch charge each school year will be added to a parent’s statement for the amount of the current lunch ticket. After this first charge, students who need to charge their lunch fee will be charged the current lunch ticket cost plus a Statement Charge Fee of $5 for each day a lunch charge occurs. This charge will be added to their statement. This change has become necessary because students have used the “daily charge” as a regular method of payment. This is unacceptable. The extra burden of paying for this service must be borne by the students who are not on the annual lunch contract who choose to use this method rather than bring a lunch ticket each school day. Obviously, with an $9.00 charge for lunch, we are trying to discourage this method of buying lunch.
Notice Regarding Late Fees
There will be a $30 late fee charged to all accounts that are not current on the 10th of each month. This includes accounts that are on ACH and have had a returned ACH or miscellaneous charges added to the account which have not been paid.
Notice Regarding Past Due Accounts
While we strongly believe in Christian education and feel that we offer an excellent value to the families that we serve, we cannot allow a family to go into debt in order to provide a Christian education to their child. Please seek God in this area as you examine the benefits and count the cost involved in this type of education for your child.
When a family’s statement shows charges that are more than 30 days old, a warning letter will be mailed to the parents. When an account is 40 days past due, a suspension notice will be given the parents stating that services will end in five days from the date of the notice. While we will do our best to work with a family that is going through a financial hardship, we can only do so if we are advised of the situation in advance. Should you foresee a problem meeting the financial obligations to the school, please send in a written note to the school’s senior administrator’s attention explaining the problem and your solution should you have one. You will then be contacted regarding the situation.
Notice Regarding Missed School Days and Early Withdraw
All tuition and fees take into account holidays, snow days, sick days, and vacation days; thus, no adjustment will be made for any day that school is not held. No refund of tuition or daycare fees will be made once the school year begins.
DOUBLE BUDGET PROCESS
Each year, the administration of Calvary Christian School will develop a two level budget. The base budget covers essential items that will be needed to provide an acceptable level of resources for the operation of Calvary Christian School. This budget will include all rent, utilities, salaries, benefits, transportation expenses, text books, insurance, basic teaching supplies, etc. The base budget of Calvary Christian School will be funded solely by registration fees, book fees, and tuition/daycare fees.
The supplementary budget will included items that improve the over-all quality of the programs offered by Calvary Christian School. This budget will include building and grounds improvements, funding for retreats, the Thanksgiving Program, the yearend program, additional equipment such as computers, TV/VCR’s, lab materials such as microscopes, etc. All items will be given a priority code of 1-5. “1” will be very important. “5” will be the least important. All funding for this budget will come from three sources - fund raising, The GAP Program and one time gifts. Expenditures will be made only if funds are available from these three funding vehicles.
There will be three fund raisers each year at Calvary Christian School. While participation is voluntary, your help is needed and appreciated. There will be a fund raiser and our Annual Fund Drive held prior to Christmas. The final fund raiser will be held in February or March. The proceeds of these fund raisers will flow directly into the secondary budget. Certain student organizations from time to time may also have a fund raiser to meet their program needs (i.e.. sports, choir, missions teams, etc.)
The GAP Program is a new systematic way for families and friends of Calvary Christian School to make regular contributions to the school. All families should make a contribution to the school based on their financial means. This method allows those families who God has blessed abundantly to give according to how they have been blessed. Parents who struggle with meeting basic life needs should consider giving a modest monthly donation which the Word says God will honor. No one should give money that is earmarked as their tithe to their church. This monthly offering will pass directly into the secondary school budget. It is the administration’s hope that $5,000 per month will be given through the GAP Program. Each dollar given will be directly invested into programs that will make Calvary Christian School a better place. If 50 families that send their children to Calvary next year, and the average monthly gift is $50.00 (with some families giving $10, some $25, and some $100) then $30,000 will be available to add great new teaching tools and programs can be added to Calvary Christian School. Grandparents, alumni and friends of our school are also encouraged to participate in the GAP Program.
One time gifts may be given to the school that will flow through the secondary budget. These gifts may or may not designate a particular item or program for expenditure of the funds. If a designation is made, and for some reason the school can’t apply the funds in the manner requested, then the administration will contact the donor for instructions.