IMMACULATE CONCEPTION CATHOLIC SCHOOL
2011-2012 Financial Commitment Form
To Be Returned
|
2011-12 Actual Cost of Education per child for Immaculate Conception is $3,608.00 |
|
|
Actual Full Cost |
Annual Tuition |
Parish Subsidy |
|
1 child |
$3,608.00 |
$3,608.00 |
$.00 |
|
2 children |
$7,216.00 |
$5,588.00 |
$1,628.00 |
|
3 children or more |
$10,824.00 |
$6,490.00 |
$4,334.00 |
We recognize the value of the education and formation our children receive at Immaculate Conception Catholic School as well as the financial challenges that such an endeavor presents. We also realize that significant sacrifices are required of both school families and parishioners in order for our school to operate. We will make a commitment of doing our part as follows:
We will pay the “annual tuition cost” of educating our child(ren) for the coming year in the amount of $ _______________________.
In addition, knowing there are families who are struggling to make ends meet and to keep their children in the school, we will make the following charitable contribution, paid separate of tuition to the parish scholarship fund in the amount of $ ______________________. We understand that the “parish scholarship” portion is tax deductible. The parish may anticipate this extra funding to be paid by (date): ____________________________________.
Signature: _______________________________________________________
Date: ______________________
Print: Family Name: ________________________________________________
# of Children in School for 2011-12 _________
Home Phone___________________________
ANNUAL Tuition Payment Preference Form, 2011-12
( to be returned with your New/or Renewal Facts Form )
Responsible Party Name: __________________________________ # of Students _____
Address: ________________________________________________________________
City: ____________________ Zip: _________ Phone: ___________________________
Student Names/ Grades for 2011-12:
__________________________ ______ ___________________________ ______
__________________________ ______ ___________________________ ______
__________________________ ______ ___________________________ ______
ANNUAL Tuition for 2011-12 school year will be paid by
_____ Option 1 - Single Payment due July 1, 2011, paid directly to the parish office. (3% Discount)
(circle one) 1 Child - $3,499.00 2 Children - $5,423.00 3 or more Children - $6,298.00
_____ Option 2 - Two Payments withdrawn by FACTS on July 5th and December 5th, 2011, with a processing fee of $15.00 withdrawn in June, 2011. (Discount of 1%)
(Circle one) 1 Child - $3,572.00 2 Children - $5,536.00 3+ Children - $6,428.00
Payments of $1,786.00 each $2,768.00 each $3,214.00 each
_____ Option 3 - - FACTS Monthly Payment Plan. Payments are budgeted over 11 months beginning in July-May and automatic bank payments can be made on either the 5th or 20th of the month, with a processing fee of $35.00 withdrawn in June, 2011 Withdrawal Date: ________
(Circle one) 1 Child - $3,608.00 2 Children - $5,588.00 3+ Children - $ 6,490.00
Payments of $ 328.00 monthly $ 508.00 monthly $ 590.00 monthly
If you select Option 1 and payment is not made by the due date, you must enroll in the FACTS Payment Plan. If you choose Option 2 or 3, you must enroll in the FACTS Automatic Tuition Payment Plan. This payment Preference Form and the FACTS Agreement Form, must be returned at the time of registration.
Peace of Mind Tuition Protection Plan (POM): if enrolled in POM, FACTS will pay the remaining unpaid balance on your FACTS agreement (except payments in arrears) to your school in the event of the death of the responsible party or his/her legal spouse. Indicate below whether or not you wish to enroll.
______ Yes, please enroll me in the POM plan, I agree to pay a nonrefundable annual fee of $12.00 per FACTS Agreement. You must also complete the following information as it applies to the person responsible for payment: Martial Status ___ Married ___ Single Date of Birth ___/___/___
______ No, please do not enroll me in POM.
I agree to make tuition payments for the 2011-12 school year according to the option indicated above. I have read the school policy regarding payment and agree to abide by the policy. The missed payment fee charged by FACTS will be $30. If my bank information or any other enrollment information changes at any time, I will need to contact the parish office to provide them with the necessary changes.
Signature: _____________________________________ Date:_________
Projected 2011-12 School Budget
The 2011-12 school budget has been presented to the School Board as well as the Parish Finance Committee. The budget is a collaborative effort by these two groups as well as the pastor and principal to meet the financial needs of the school for the upcoming school year.
Immaculate Conception Catholic School provides a high quality education for its students. Our school tuition is among the lowest of our neighboring parishes.
Total Projected 2011-12 School Budget Expenses: $2,881,076.00
Projected Personnel Cost: $ 2,405,865.00
Occupancy Cost: $ 156,795.00
Fees: $ 10,325.00
Supplies: $ 201,500.00
Transfer Tax: $ 106,591.00
Total Projected 2011-12 School Budget Income: $2,420,104.00
Tuition Collection: $2,094,034.00
Registration Fees: $ 120,000.00
Continued Care: $ 10,127.00
Playground Fee: $ 22,500.00
HSO (70% of family obligation: $ 73,125.00
Other Fundraising: $ 100,318.00
Total 2010-11 Parish Subsidy @ 16% $ 460,972.00
Cost of Educating ONE Child: $3,608.00
Our tuition rates from 2010-11 to 2011-12; therefore,
have been increased as follows:
|
# of Children |
2010-11 Tuition |
2011-12 Tuition |
Increase |
Monthly increase in FACTS (11 months) |
|
One |
$3,432.00 |
$3,608.00 |
$176.00 |
$16.00 |
|
Two |
$5,148.00 |
$5,588.00 |
$440.00 |
$40.00 |
|
Three + |
$6,006.00 |
$6,490.00 |
$484.00 |
$44.00 |
For one child, the increase is about $.09 per day, based upon 177 school days.
Tuition Worksheet, 2011-12
Actual Cost of Education PER Child - $3,608.00
Parish Subsidy – 16% of Budget
Tuition
Family Cost for ONE Child $3,608.00
Family Cost for TWO Children $5,588.00
Family Cost for THREE or MORE Children $6,490.00
________________________________________________________________
TUITION PAYMENT OPTIONS
1 CHILD 2 CHILD 3 OR MORE
SINGLE PAYMENT $3,499.00 $5,423.00 $6,298.00
SEMESTER PAYMENT $1,786.00 $2,768.00 $3,214.00
June FACTS processing fee $ 15.00 $ 15.00 $ 15.00
MONTHLY (FACTS) $ 328.00 $ 508.00 $ 590.00
June FACTS processing fee $ 35.00 $ 35.00 $ 35.00
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BOOKS/MATERIALS FEES: $150.00 per child
This is a once-a-year fee that pays for books, testing, office supplies, library and Tech equipment, etc. Families registering more than one child may pay the fee for one child and pay the fee for the other children in installments from March through May 1st .
By May 1st , all registration fees for the family must be paid in full.
Students entering the school at any point in the school calendar year, pay $150 per child, this amount does not prorate. $100.00 of the books/materials fee is nonrefundable for children who are accepted into the school and later decide not to attend. There is no refund of money for children who exit the school anytime during the year.
Playground Fee: Please note that again for 2011-12, this $50.00 fee has been added to the HSO obligation and does not get paid outright by families. (See HSO information)