Fee & Imprest Policy

Objective:

The objective of this policy is to provide specific and clear instruction to all parents about the school fees payments.

Applicable to:

This policy applies to all parents and students.

Value (s) guiding policy:*

  1. Value Term: Fairness
  2. Why: My action must be not discriminate or give undue advantage to anyone.

Rationale:

The school has the responsibility to inform parents enrolling their child’s about the fee charges and related procedures.

Policy Guidelines:

Please note that the admission and tuition fees once paid are refundable under below-mentioned circumstances only.

  • Admission Fees: It is refundable as per refund policy.
  • Refundable deposit: The refundable deposit becomes refundable only when the child leaves the school. It is refundable given that all fees have been paid in full – subject to deductions for replacement, repair and damage to school property including library books, computers etc.

Fee Payment:

  • Fee payment has to be done in 2 half-yearly installments.
  • A request for monthly installments needs to be made in writing to the Head ofAdministration
  • The monthly installment will be charged with interest (1.5% on annual fees).
  • If approved, parents will need to give post-dated cheques or enable ECS payment to the school’s bank account.
  • Student joining midterm will have to pay a fee on pro-rata basis i.e. fee for the balance months remaining in the term.

· Late Fees: In case of late payment of fees, after the given deadline, the following late fee charges will be applicable:

Late Fee Charges
Amount Day
100 Rs. Per day (after the last date of submission)

In case not paid by the parent at the time of depositing the fees, the same will be deducted from the student’s Imprest or/ and refundable deposit.

  • In case the fee is not paid by 30th April along with the applicable late fees for the next session, the school, using its discretion, will issue a Leaving Certificate for the student. Prior intimation will be given and confirmation will be taken for the same from the parent. In case the LC is issued by the school, the student will be treated as a new student applying for admission. Admission Fees will be charged as per prevailing admission policy.
  • If the parents fail to pay the fees within the due date and even after sufficient reminders by the school, the school has the discretion to stop transport facility to the student. Then the parents would have to make their own arrangements for transport to the final cut off date for the fee payment which they agreed on and after that, the student will be given LC.
  • Failed Payments: In case your cheque bounces, the school will charge Rs. 500 as administrative charges for every payment instrument.(It is only applicable for tuition fee payments)
  • Annual Fee Increment: The school reserves all rights to increase the fees up to 10% per annum under a normal economic scenario without any consultation.
  • Fee coverage: The annual education fees does not cover the following:
  • In the case of any external medical attention given to the children (inside or outside school premises) then primary first aid expenses up to 500/- can be borne by school and rest will be borne by the parents and the school takes no responsibility towards the same.
  • Anything not mentioned in the “Fee Details”  in the inclusions section but necessary for the school to implement will be charged extra.
  • There may be optional expenses which if the parents opt for their child, will be charged extra.

List of Optional Expenses:

Fees Include Fees does not Include (additional expenses)
Transport ·Bus fees cover pick-up and dropping off the student from a designated location as detailed in Transportation Routes. ·Transportation may not be provided for a location falling outside of the planned route. If the school offers transportation to such a location, then additional fees will be charged
·(Transportation expenses are covered only for the given routes) ·Transport for early morning sports/arts camp, out of town trips/ sports camps and picnics.
Daily Healthy Meal ·One fresh and nutritious mini-meal will be provided to students everyday ·A meal from home
School Essentials ·Notebooks, Limited Stationery & Educational Supplies, Library & Computer Usage ·Prescribed text books (as applicable) and Readers for all Grades (Nursery G11) which is a part of the course work (not optional)
·Library charges for late deposit or lost / missing book, late fees on account of a delayed deposit of tuition fees, recovery of any damages. (not optional)
·Bag, shoes, school uniform, sports uniform, sports-related materials/ music instruments
·AS (Arts Special) Classes – Charged (when external faculty is called) e.g. Guitar, Keyboard, Tabla, Percussion etc. (Optional but highly recommended)
Co-curricular and Extracurricular Activities ·All essential field trips, in-house visits (not including camps or other out of town trips whether educational or essential) ·All out of town education trips/Nature camps/ Picnics (Day trips, 3-4 days trips or longer duration camps)
·Sports Camp for Football, Basketball, Volleyball, Karate, Athletics, Frisbee and Art camps.
(Trips, Events, Competitive Exams) ·All extracurricular activities offered by the school (within regular school timings & days) ·Material charges, books and examination fees for ASSET, Olympiads, etc
·All internally held examinations (not including external examinations whether compulsory or optional) ·Charges for expenses incurred for Interschool Events in the Sports & Performing Arts areas i.e. Compulsory – CIE Check Point, ASSET
·Optional – Olympiad, NTSE, Intermediate Exam Of Drawing, Elementary Exams, IYF Exams or any other diagnostic tests.
·All events including the sports day, annual day performance & other special days ·Registration & Examination Fee for IGCSE, DP or any Board Exams – Charges as per the choice/number of subjects.
·Annual Performance costumes, AS Performance (props, rental expenses) (not optional until not participating)
·Charges for expenses incurred in Interschool events in sports & performing Arts. (optional)
·Additional learning support provided to the student from Special Educational Needs (SEN) cell or Additional English Language Support (AELS) cell.
Portfolio ·All observation records and worksheets, photos to be a part of the portfolio ·End of year memories, CD’s, yearbook, videos, annual day performance CD’s etc.
Miscellaneous ·Oasis Valley Leadership Camp, Aero-modeling Camps, Robotics Camps, any other workshops etc. (optional)
  • This imprest deposit is to be paid in a single installment along with the 1st installment of the academic fees due on March 31, 2014.
  • The school will ask for approval wherever the expense to be incurred is optional. The school will send you the actual expense details at the end of each term.
  • At the end of the academic session, remaining balance (if any) will be carry forwarded to next academic session. In the case of any shortfall during the year, the school may ask for more imprest deposit as per the requirement.
  • Transportation Fee: Transportation expenses are covered only for the routes & timing given by the school. Transportation may not be provided for a location falling outside of the planned route. If the school offers transportation to such a location, then additional fees will be charged. Refer to “Transportation Policy”  below for more details.
  • Special Needs Educational Fees: The Annual Education Fees does not cover any special attention necessary whether the need is realized prior to admission or anytime during the child’s academic career at the school. The parents will be consulted for their consent before resources are allotted to special needs students. Special needs fees will be 20-40% or more in some cases than the annual fees depending on their needs. The fees applicable will be decided on a case-to-case basis only, but will not exceed the annual education fees.

Re-admission Terms & Condition (Fee for Student Joining back after 1 Year):

  • This policy will be applicable only for those students who were shifted outside the city due to transfer of their parents but not within the city and come back after one year and wants to join school e.g. if a student leaves school in 2010-11 and does not attend school for the year 2011-12 but again applies in 2012-13 then this policy will be applicable to him/her and if the same student applies in 2013-14 instead of 2012-13 then this policy will not be applicable to him/her).

  • If the Child leaves the school and comes back after one year than s/he will have to pay the fees as per current academic session but he will get a discount in the admission fees. They will have to pay the difference of admission fee paid earlier e.g. If admission fee is 50000/- and student had paid 15000/- as admission fee previously than s/he will have to pay Rs. 35000/- admission fees at the time of admission

  • If the child has not taken back the security deposit then s/he will have to pay the current amount of the deposit after deduction of the previous amount paid earlier e.g. If the security deposit is 30000/- and student had paid security deposit Rs. 15000/- earlier and did not take it back at the time of withdrawal the s/he will have to pay Rs 15000/- at the time of admission.

  • If the student was from 2008 batch previously then too he will have to pay as per the current years fees.

  • All other admission processes apply as for any other students.

Note:

1. Security deposit is refundable in all cases. Please refer to the fee payment schedule for more details.

2. The school management has the right to implement changes to the fee structure. If the government brings in any new regulations or introduces some new taxes or change the existing one (e.g. service tax on tuition or transportation fee etc.) then the same will be passed on to parents and is applicable from whichever date is passed on.

3. Please note that the admission and tuition fees once paid are refundable as per policy only.

Collecting money from Students for Additional Expenses other than tuition fee (Imprest Details):

The objective is to define a system for money collection to avoid misplacement. The system of cash collection from students for various events has been discontinued as there are chances of misplacement / getting lost etc.

Payments other than Imprest, above Rs.300/- would be accepted by cheque only and the same has to be submitted to the PRO who will hand over the same to Accounts dept and keeping necessary records. The parents will write the name and grade of the student on the backside of the cheque. Payments below Rs. 300/- will be adjusted from the imprest amount.

Accounts dept. will ensure that the receipts for such payments received are issued within 2 days of receipt and same-handed over to the PRO and will be sent to parents for reference.

Imprest:

‘Imprest deposit’ is collected from the students at the staring of every academic year along with fees. The objective is to avoid cash transaction between student and school for various activities conducted in the entire academic year.

Guidelines

All charges which are optional would be incurred on account of activities and will be deducted from the respective imprest deposit amount of the student with prior consent / information to the parents. This imprest deposit is to be paid in a single installment along with the 1st Installment of the Academic fees irrespective of the mode of payment of the academic fees.

Imprest Deposit covers the following expenses:

  • All outstation educational trips / Nature camps / Picnics (optional but highly recommended)
  • Library charges for late deposit or lost book, Late Fees on account of delayed deposit of Tuition Fees, recovery of any damages (not optional)
  • Prescribed text books (Grade 7, 8 & 9) (not optional)
  • Readers for the other classes (Grade 1 to Grade 6) (not optional)
  • Charges for expenses incurred for Interschool Events in the Sports & Performing Arts areas (optional)
  • Annual Day Rental expenses (not optional unless not participating)
  • Competitive Exam & Material charges for ASSET, Olympiads etc. (optional)

Key Points

  • Full amount to be paid along with 1st installment.
  • The school will ask for approval wherever the expense to be incurred is optional. The school will send you the actual expense details at the end of the academic session as per (Annexure-2).

At the end of the academic session, remaining balance (if any) will be carry forwarded to next academic session. In the case of any shortfall during the year, the school may ask for more imprest deposit as per the requirement.

The present Imprest deposit amount grade wise is as under:

Grade

Imprest deposit

Early Years (Nu, JK)

1000/-

Early Years (SK)

2000/-

Grade 1

4500/-

Grade 2-3-4

5500/-

Grade 5

7500

Grade 6

6500/-

Grade 7, 8, 9, 10 & 11

15000/-

These amounts have been estimated as per the actual expenses incurred in this academic year. Details of expenses for the grades are given below for better appreciation.

School Leaving Certificate:

Objective:

To get early information about students who wants to leave school early/mid of the session.

Rationale:

Fountainhead School has developed a Leaving Certificate to ensure that we get information about students terminating admission early enough so that those students who wish to get admitted are not denied.

Guidelines:
Application for Leaving Certificate

The application should be given 1 week in advance by filling up the LC Application form available at front desk. LC will be issued if and only if all dues are cleared. This includes tuition fees, late fees, other fees, any damages, library fines, and outstanding amounts for any events, activities, camps, etc. In case the dues are not paid, then the same sum will be deducted from the security deposit if the student is eligible to get the security deposit. The effect on the fee & security deposit on the day of application is given here:

LC Application Period

Current Academic Session (Term-1)

1 June – 30 October

Current Academic Session (Term-2)

1 November – 30 April

After the Current Academic Session

1 May to 31 May

Leaving Certificate will be given Within 5 working days Within 5 working days Within 5 working days
Fee Refund (1st & 2nd Installment)

Tuition fee will be refunded on the pro-rata basis. Pro-rata basis should be calculated on a monthly basis. i.e. if a student leaves in between the month, then it will be considered as a full month

Tuition fee will be refunded on the pro-rata basis. Pro-rata basis should be calculated on a monthly basis. i.e. if a student leaves in between the month, then it will be considered as a full month

Not applicable
Security Deposit To be refunded along with the LC To be refunded along with the LC To be refunded along with the LC

Please note:

  1. Once the LC is issued and you decide to readmit the child, then we will consider it as a new admission.
  2. Leaving Certificate will not be issued with a counter sign of the District Education Officer (DEO) since the school does not fall under the purview of district/state education authority.
  3. No Objection Certificate (NOC) issued by Government of Gujarat, which allows us to run a primary school with an IBO affiliation, will be given along with the Leaving Certificate.
  4. A copy of PYP Authorization Certificate endorsed/attested by a govt. the authority will be given along with Leaving Certificate. For the Middle Years (Grades 7 onwards), attested copy of the CIE authorization certificate (Cambridge board) will also be given.
  5. Admission Fees: It is refundable as per refund policy.
  6. Refundable deposit: The refundable deposit becomes refundable only when the child leaves the school. It is refundable given that all fees have been paid in full – subject to deductions for replacement, repair and damage to school property including library books, computers etc.

Important Points:

  • For Existing students – if parents does not apply for LC until June / July or have not paid the fee without any valid reason informed before hand or do not give any information about withdrawal of admission, then after giving them verbally and written (both email and letter) intimation, we will strike off their admission if there is another student waiting. This case can be considered if the parent has informed us about the delay – because of possible transfer / delay in the decision but they have to send a written communication to school in the form of email / letter.
  • In case the fee is not paid by 30th April along with the applicable late fees for the next session, the school, using its discretion, will issue a Leaving Certificate for the student. Prior intimation will be given and confirmation will be taken for the same from the parent. In case the LC is issued by the school, the student will be treated as a new student applying for admins: The refundable deposit becomes refundable. Admission Fees will be charged as per prevailing admission policy.

Fee Refund (New Admission):

1st Installment- If 1st installment for new academic session is paid and then student withdraws admission, the following conditions will be applicable for fee refund:

  • If a student withdraws admission before 1 month of the starting of an academic year – entire fees except registration amount (application form fee) will be refunded.
  • If a student withdraws admission within 1 month of the starting of an academic year – 50% of admission fee will be forfeited and balance fee will be refunded.
  • If a student withdraws admission before 1 month of the starting of an academic year – entire fees except registration amount (application form fee) will be refunded.
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