Transfer of Instructional Funds

Policy

There are times when an ES needs to transfer Instructional Funds. The transfer of instructional funds between ESs due to student transfers is automatic, but there are other times when a transfer might be appropriate. All IF transfers from one ES to another are subject to ES Advisor review and approval, as well as the parents involved.

Types of IF transfers

Ø for the "purchase" of an item from one family to another or from one ES to another. (this email is sent automatically to your advisor from ES Webfiles)

Ø to correct a possible funding error due to a student transfer (Use procedure below)

Ø to transfer funds from family to family (same ES) with advisor and parent approval, not associated to a material transfer (Use procedure below)

Ø to donate funding to a site (use the program expense agreement form for this transfer)—FYI, we currently have no sites!

Process

An ES must first understand how and when instructional funds are placed in the ES budget:

ü At the beginning of a semester, funding is placed in an ES's budget for a student based on their date of enrollment and the expected amount of ADA the school hopes to collect for that student if they stay enrolled all semester.

ü It isn't "real" money until attendance for that student is collected that will equal the amount projected.

ü If, for any reason, that student drops prior to the date that the money was "earned", then some of that money may not be available to be transferred for any purpose, as it is not “real”.

ü If your student is graduating at the end of first semester, you must remember that only the first semester funds are "real", and 2^nd semester funds will be deducted from the ES budget when the graduate drop is complete, and may not be spent or transferred.

ü Do not transfer a 2^nd semester graduates’ funding for any reason (if monies are left in the IF account), as we rely on this remaining money to cover money spent accidently by an ES that is not “real”. This keep us in the “black”.

ü IF funds may not be transferred after a student has dropped from the school for any reason. All remaining IF on the date of a student drop goes into the school general fund to cover expenses for students who did not accrue enough funding to cover this year’s school wide expenses.

Procedure

1. Have this form signed by the appropriate parties involved: http://www.sscs.cc/genericforms/fundstransfer.pdf. An email from the parent approving also works in place of a signature.

2. Obtain approval from your advisor.  Email a pdf of the signed completed form above with following information:

-The reason for the transfer

-From whose account (ES and #/Parent and #) to whose account (ES and #/Parent and #)

-The amount to be transferred

-Is this student dropping mid-year?

-An email from the parent must be included also, or provide their signature on the hardcopy form

3. The advisor will then forward this information and their approval on to student funding.