ST. LAWRENCE O’TOOLE SCHOOL ADVISORY COMMITTEE

FINANCIAL POLICY

 

  1. The school will operate on a sound, “pay as you go” basis.
  2. All General school fees are due at the time of registration.
    1. Tuition fee is due according to your chosen payment schedule. All families must pay one month of tuition in May regardless of payment plan chosen.  Payment schedules are as follows:

PLAN 1:

 

ANNUAL PAYMENT  Tuition for the entire year must be paid by August 1st.  A discount 

            of $50.00 per child per year may be deducted under the annual plan.

 

PLAN 2:

 

SEMI-ANNUAL PAYMENT:  Tuition for the year must be paid in two installments. 

60% of the yearly tuition must be paid by August 1st.  The balance must be paid by February 1st.  A discount of $25 per child may be deducted from the August Payment. 

 

PLAN 3:

 

MONTHLY PAYMENT:  Tuition paid in ten monthly payments beginning in May and

then August with the final payment due in April.   Tuition payment(s) are due by the 1st day of the current month.  Families requesting a payment due date after the 1st will be required to make their first payment in July, (on the prescribed date agreed upon), and each succeeding month thereafter, thus making your last tuition payment in March.  These arrangements can only be made at the time of registration.

 

Every family is required to pay a mandatory fund raising fee of $350.00. 

 

  1. The Financial Committee is responsible for reviewing monthly financial statements as prepared by the bookkeeper.  Non-Parishioner rates will be implemented for those not fulfilling the definition of an active parishioner.
  2. The Financial Committee, acting in strict confidence, will review family payment problems on an individual basis.
  3. Any family in arrears will be subject to action by the Financial Committee.  Such action may include the following: withholding of report cards, transcripts, and diplomas.  Failure to meet the contracted financial obligations may also result in the student(s) suspension from school.  These measures will be implemented unless OTHER ARRANGEMENTS have been made.

A.     If your monthly tuition is not received by the 10th of the month, a $25.00 late fee will be assessed to your tuition.

B.     Each NSF check will be charged a $25.00 fee.

C.    We reserve the rights to deem any payment by cash, money order, and/or certified check when this method is deemed appropriate to guarantee required payment.

  1. The School Principal is authorized to carry out recommended suspensions.
  2. Families planning to enroll children for the upcoming year will be required to clear all past due debts before registering their child/children.
  3. All financial contracts must be fulfilled and will be reviewed prior to registration or more frequently as the contract so stipulates.

 

DEFINITION OF PARISHIONER

“In order to be classified a parishioner and receive the Parishioner Tuition Rate, one parent must be a baptized Catholic who is registered at St. Lawrence O’Toole Parish.  It is anticipated that parishioners, with their families, regularly participate in weekly Worship at Sunday liturgy, and demonstrate support to the parish community by sharing of their time, talent, and financial resources.  Registered parishioners are required to use their envelopes in the Sunday offertory collection as a means of financial support to the parish.  Families actively involved in the parish will receive parishioner rates for tuition at St. Lawrence O’Toole Catholic School if they demonstrate active participation as outlined above, giving of their time, talent and treasure to St. Lawrence O’Toole Catholic Church.  Being a registered parishioner has greater implications than just sending a child to the school and fulfilling the tuition obligation.  The parish community is sustained and enriched as we gather in prayer and use the gifts and abilities God has given us for the building up of the community and the Kingdom of God.”