Distribution of Funds Schedule i. The Sponsor shall calculate and submit twelve (12) monthly or twenty- four bi- monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) or one twenty-fourth (1/24) of the funds described in Section 4.A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15 of the School’s first year of operation. Subsequent payments will be made no later than the 15th of each month beginning with August 15.
ii. For each year of the Charter, monthly payments will be calculated as follows:
a. July through October payment shall be based on the School’s Final Projected Enrollment as determined under the provisions of Section 3.F. of this Charter, if a minimum of 75 percent of the Final Projected Enrollment is entered into the Sponsor's Student Information System by the first day of the current month. Otherwise, or if the School’s enrollment exceeds its Projected Enrollment, the Sponsor shall fund the School based on the number of students actually registered as of the first day of the month.
b. Thereafter, the results of full-time equivalent student membership surveys shall be used in adjusting the amount of funds distributed monthly to the School for the remainder of the fiscal year.
c. Payments will be adjusted retroactively for prior period adjustments.
iii. Payment shall not be made, without penalty of interest, for students in excess of the School facility’s valid capacity as determined by the School’s Certificate of Occupancy, Certificate of Use, or Fire Permit or in excess of the Annual Enrollment Capacity for the school year (whichever is less). In the event that the required county or municipality facility permits do not indicate a facility capacity, the School must submit a letter from the architect of record certifying the capacity of the facility.
iv. The Sponsor may withhold monthly payments, without penalty of interest, if the School’s Certificate of Occupancy, Certificate of Use, or Fire Permit has expired or has otherwise become invalid. The School shall notify the Sponsor immediately if any of the aforementioned documents has expired or become invalid. The Sponsor shall release, in full, all funds withheld under this provision when the School has cured the deficiency. Payments will not be withheld pending receipt of the School’s Certificate of Occupancy, Certificate of Use or Fire Permit for its initial location or any subsequent location, so long as the Sch...
Distribution of Funds Schedule i. The Sponsor shall calculate and submit twelve (12) monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) of the funds described in Section 4.A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15. Subsequent payments will be made no later than the 15th of each month beginning with August 15. The Sponsor may not delay payment to the School of any portion of the funds provided in Section
Distribution of Funds Schedule i. The Sponsor shall calculate and submit twelve (12) monthly or twenty- four bi-monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) or one twenty-fourth (1/24) of the funds described in Section 4.A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15 of the School’s first year of operation. Subsequent payments will be made no later than the 15th of each month beginning with August 15.
ii. For the first two years of this Charter, monthly payments will be calculated as follows:
a. July through October payment shall be based on the School’s projected enrollment as described on the cover sheet of the approved Application, if a minimum of 75 percent of the projected enrollment is entered into the Sponsor's Student Information System by the first day of the current month. Otherwise, or if the School’s enrollment exceeds its projected enrollment, the Sponsor shall fund the School based on the number of students actually entered in the Sponsor's Student Information System as of the first day of the current month, not to exceed the Annual Enrollment Capacity.
Distribution of Funds Schedule. The Sponsor shall disperse the funds specified in this Article to the School in a timely and efficient manner. Timely distribution of funds to the School shall begin in July 2021 on a monthly basis. Until the Sponsor has conducted an official enrollment count, the monthly payments will be based on the School’s prior year FTE student membership. Thereafter, the results of student enrollment counts and FTE membership surveys will be used in adjusting the amount of funds distributed monthly to the School for the remainder of the fiscal year. The Sponsor shall pay the School one-twelfth of the available funds less administrative fee as defined in Section 1002.33(20)(a), Florida Statutes within ten (10) business days of receipt by the Sponsor of a distribution of State or local funds. If payment is not made within ten (10) business days after receipt of funding by the Sponsor, the Sponsor shall pay to the School, in addition to the amount of the scheduled disbursement, interest at the rate of one percent (1%) per month calculated on a daily basis on the unpaid balance from the expiration for the ten (10) business day period until such time as the payment is made.
Distribution of Funds Schedule i. The Sponsor shall calculate and submit twelve (12) monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) of the funds described in Section 4.A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15. Subsequent payments will be made no later than the 15th of each month beginning with August 15.
ii. For the first year of this Contract, monthly payments will be calculated as follows:
a. July through October payment shall be based on the School’s projected enrollment as described on the cover sheet of the approved application, if a minimum of 75 percent of the projected enrollment is entered into the Sponsor's Student Information System by the first day of the current month. Otherwise, the Sponsor shall fund the School based on the number of students actually entered in the Sponsor's Student Information System as of the first day of the current month.
b. Thereafter, the results of full-time equivalent student membership surveys shall be used in adjusting the amount of funds distributed monthly to the charter school for the remainder of the fiscal year.
Distribution of Funds Schedule i. The Sponsor shall calculate and submit twelve (12) monthly or twenty-four bi-monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) or one twenty-fourth (1/24) of the funds described in Section 4.A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15 of the School’s first year of operation. Subsequent payments will be made no later than the 15th of each month beginning with August 15. Pursuant to s. 1002.33(17)(e), F.S., the Sponsor may not delay payment to the School of any portion of the funds provided in Section 4.A.1. based on the timing of receipt of local funds by the Sponsor.
ii. For each year of the Charter, monthly payments will be calculated as follows:
a. July through October payment shall be based on the School’s Final Projected Enrollment as determined under the provisions of Section
Distribution of Funds Schedule i. The Sponsor shall calculate and submit twelve (12) monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) of the funds described in Section 4.A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15. Subsequent payments will be made no later than the 15th of each month beginning with August 15.
ii. For new Schools in the first year of this Contract, monthly payments will be calculated as follows:
a. July through October payment shall be based on the School’s projected enrollment as described on the cover sheet of the approved application, if a minimum of 75 percent of the projected enrollment is entered into the Sponsor's Student Information System by the first day of the current month. Otherwise, the Sponsor shall fund the School based on the number of students actually entered in the Sponsor's Student Information System as of the first day of the current month.
b. Thereafter, the results of full-time equivalent student membership surveys shall be used in adjusting the amount of funds distributed monthly to the charter school for the remainder of the fiscal year.
c. Payments will be adjusted retroactively for prior period adjustments.
iii. For new schools in the second year and following years of the Contract, or for all existing Schools, monthly payments will be calculated as follows:
a. July through October payment shall be based on the School’s final projected enrollment as determined under the provisions of Section
Distribution of Funds Schedule. 3 i) Upon receipt of student enrollment as supported by a list of the 4 names of students who have enrolled at the School, and calculation 5 of weighted FTE from the School on or after July 1 of each year, 6 the Sponsor shall ensure that the School receives timely and 8 students in excess of the School’s Maximum Enrollment Capacity.
Distribution of Funds Schedule. 927 i. The Sponsor shall calculate and submit twelve (12) monthly payments to the 928 account specified by the School. Each payment will be one-twelfth (1/12) 929 of the funds described in Section 4.A.1., above, less the administrative fee 930 set forth in Section 4.A.3, above. The first payment will be made by July 15 of 931 the School’s first year of operation. Subsequent payments will be made no 932 later than the 15th of each month beginning with August 15. The Sponsor may 933 not delay payment to the School of any portion of the funds provided in Section 934 4.A.1. based on the timing of receipt of local funds by the Sponsor. 935 ii. For the first two years of this Contract, monthly payments will be calculated 936 as follows:
937 a. July through October payment shall be based on the School’s projected 938 enrollment as described on the cover sheet of the approved application, if 939 a minimum of 75 percent of the projected enrollment is entered into the 940 Sponsor's Student Information System by the first day of the current 941 month. Otherwise, the Sponsor shall fund the School based on the number 942 of students actually entered in the Sponsor's Student Information System 943 as of the first day of the current month. 944 b. Thereafter, the results of full-time equivalent student membership 945 surveys shall be used in adjusting the amount of funds distributed monthly 946 to the Charter School for the remainder of the fiscal year. 947 c. Payments will be adjusted retroactively for prior period adjustments. 948 iii. For new schools in the second and following years of the Contract, or for all 949 existing Schools, monthly payments will be calculated as follows:
950 a. July through October payment shall be based on the School’s final 951 projected enrollment as determined under the provisions of Section 3.G. 952 of this contract, if a minimum of 75 percent of the final projected 953 enrollment is entered into the Sponsor's Student Information System by 954 the first day of the current month. Otherwise, the Sponsor shall fund the 955 School based on the number of students actually registered as of the first 956 day of the month. 957 b. Thereafter, the results of full-time equivalent student membership surveys 958 shall be used in adjusting the amount of funds distributed monthly to the 959 Charter School for the remainder of the fiscal year. 960 c. Payments will be adjusted retroactively for prior period adjustments. 961 iv. Payment shall not be made, ...
Distribution of Funds Schedule a. The Sponsor shall calculate and submit twelve (12) monthly or twenty- four (24) bi-monthly payments to the account specified by the School. Each payment will be one-twelfth (1/12) or one twenty-fourth (1/24) of the funds described in Section 4. A.1., above, less the administrative fee set forth in Section 4.A.3, above. The first payment will be made by July 15 of the School’s first year of operation. Subsequent payments will be made no later than the 15th of each month beginning with August 15.
b. For the first two (2) years of this PBA, monthly payments will be calculated as follows:
i. July through October payment shall be based on the School’s projected enrollment as described on the cover sheet of the approved Application, if a minimum of seventy-five percent (75%) of the projected enrollment is entered into the Sponsor's Student Information System by the first day of the current month. Otherwise, or if the School’s enrollment exceeds its projected enrollment, the Sponsor shall fund the School based on the number of students actually entered in the Sponsor's Student Information System as of the first day of the current month, not to exceed the Annual Enrollment Capacity.
ii. Thereafter, the results of full-time equivalent student membership surveys shall be used in adjusting the amount of funds distributed monthly to the School for the remainder of the fiscal year.
iii. Payments will be adjusted retroactively for prior period adjustments.
c. For the following years of the PBA, monthly payments will be calculated as follows:
i. July through October payment shall be based on the School’s Final Projected Enrollment as determined under the provisions of Section
