Common use of Funding Procedure Clause in Contracts

Funding Procedure. The Board shall provide the Charter School with one hundred percent (100%) of the school district’s per capita tuition. The Board shall calculate the agreed upon per capita tuition payment for each resident pupil enrolled at the Charter School based on the procedure set forth in Illinois School Code; and, as reported to the Illinois State Board of Education on or before January 1 of the year preceding the school year in which the Charter School will be provided said per capita tuition. If the Board does not receive the funding levels approved by the State of Illinois during a school year, the funding levels approved by the Board to the Charter School shall be adjusted in a proportionate amount. The Board shall provide the per capita tuition payment to the Charter School for each pupil enrolled at the Charter School as follows: i. First Installment. The amount of the Board’s first quarterly payment shall be calculated based upon the number of students enrolled at the Charter School on August 25 of each year, as verified by enrollment data and/or enrollment forms, multiplied by one-quarter (.25) of the per capita tuition amount. The first quarterly payment shall be made within 10 business days of receipt of the information required in this paragraph. It is understood and agreed that the first installment for each school year will be remitted only upon: (1) the Board receiving the enrollment report from the Charter School; (2) the Board receiving the Charter School’s by-laws which have been adopted by the Charter Schools board of directors (for the first year of this Agreement only, unless it is amended by the Charter School thereafter); (3) the Board receiving all Attendance Center submissions as required under Paragraph 6(p) herein; and, (4) the Board receiving all submissions due on or before July 1 of the first year of this Agreement and/or on or before July 1 of each year of operation including, but not limited to those required under Paragraph 4(i) and its subparts regarding student discipline, Paragraph 4(m) regarding school calendar, Paragraph 5(b) regarding the Charter School’s written policies and procedures, Paragraph 5(g) and its subparts regarding building certificates, Paragraph 6(b) regarding budget, and Section 8 regarding insurance. ii. Second Installment. The amount of the Board’s second quarterly payment shall be calculated based upon the number of students enrolled at the Charter School on October 1 of each year, as verified by attendance records, multiplied by one-quarter (.25) of the per capita tuition amount. The second quarterly payment shall be made no later than October 15 of each year. It is understood and agreed that the second installment for each school year will be remitted only upon the Board receiving all of the information required in this paragraph.

Funding Procedure. The Board shall provide the Charter School with one hundred ninety percent (10090%) of the school district’s per capita tuition. The Board shall calculate the agreed upon per capita tuition payment for each resident pupil enrolled at the Charter School based on the procedure set forth in Illinois School Code; and, as reported to the Illinois State Board of Education on or before January 1 of the year preceding the school year in which the Charter School will be provided said per capita tuition. If the Board does not receive the funding levels approved by the State of Illinois during a school year, the funding levels approved by the Board to the Charter School shall be adjusted in a proportionate amount. The Board shall provide the per capita tuition payment to the Charter School for each pupil enrolled at the Charter School as follows: i. First Installment. The amount of the Board’s first quarterly payment shall be calculated based upon the number of students enrolled at the Charter School on August 25 1 of each year, as verified by enrollment data and/or enrollment forms, multiplied by one-quarter (.25) of the per capita tuition amount. The first quarterly payment shall be made within 10 business days of receipt of the information required in this paragraph. It is understood and agreed that the first installment for each school year will be remitted only upon: (1) the Board receiving the enrollment report from the Charter School; (2) the Board receiving the Charter School’s by-laws which have been adopted by the Charter Schools board of directors (for the first year of this Agreement only, unless it is amended by the Charter School thereafter); (3) the Board receiving notice that the State Board has issued final charter certification to the Charter School (for the first year of this Agreement only, unless it is amended by the Charter School thereafter); (4) the Board receiving and approving the Cost Allocation Plan as required under Paragraph 6(k)(i) (for the first year of this Agreement only, unless it is amended by the Charter School thereafter) (5) the Board receiving all Attendance Center submissions as required under Paragraph 6(p) herein; and, (46) the Board receiving all submissions due on or before July 1 of the first year of this Agreement and/or on or before July 1 of each year of operation including, but not limited to those required under Paragraph 4(i) and its subparts regarding student discipline, Paragraph 4(m) regarding school calendar, Paragraph 5(b) regarding the Charter School’s written policies and procedures, Paragraph 5(g) and its subparts regarding building certificates, Paragraph 6(b) regarding budget, and Section 8 regarding insurance. ii. Second Installment. The amount of the Board’s second quarterly payment shall be calculated based upon the number of students enrolled at the Charter School on October 1 of each year, as verified by attendance records, multiplied by one-quarter (.25) of the per capita tuition amount. The second quarterly payment shall be made no later than October 15 of each year. It is understood and agreed that the second installment for each school year will be remitted only upon the Board receiving all of the information required in this paragraph.

Funding Procedure. The Board shall provide the Charter School with one hundred ninety- seven percent (10097%) of the school district’s per capita tuition. The Board shall calculate the agreed upon per capita tuition payment for each resident pupil enrolled at the Charter School based on the procedure set forth in Illinois School Code; and, as reported to the Illinois State Board of Education on or before January 1 of the year preceding the school year in which the Charter School will be provided said per capita tuition. If the Board does not receive the funding levels approved by the State of Illinois during a school year, the funding levels approved by the Board to the Charter School shall be adjusted in a proportionate amount. The Board shall provide the per capita tuition payment to the Charter School for each pupil enrolled at the Charter School as follows: i. First Installment. The amount of the Board’s 's first quarterly payment shall be calculated based upon the number of students enrolled at the Charter School on August 25 of each year, as verified by enrollment data and/or enrollment forms, multiplied by one-quarter (.25) of the per capita tuition amount. The first quarterly payment shall be made within 10 business days of receipt of the information required in this paragraph. It is understood and agreed that the first installment for each school year will be remitted only upon: (1a) the Board receiving the enrollment report from the Charter School; (2b) the Board receiving the Charter School’s 's by-laws which have been adopted by the Charter Schools board of directors (for the first year of this Agreement only, unless it is amended by the Charter School thereafter); (3c) the Board receiving notice that the State Board has issued final charter certification to the Charter School (for the first year of this Agreement only, unless it is amended by the Charter School thereafter); (d) the Board receiving and approving the Cost Allocation Plan as required under Paragraph 7(k)(i) (for the first year of this Agreement only, unless it is amended by the Charter School thereafter); and (e) the Board receiving all Attendance Center submissions as required under Paragraph 6(p7(p) herein; and, (4f) the Board receiving all submissions due on or before July 1 of the first year of this Agreement and/or on or before July 1 of each year of operation including, but not limited to those required under Paragraph 4(i5(i) and its subparts regarding student discipline, Paragraph 4(m5(m) regarding school calendar, Paragraph 5(b6(b) regarding the Charter School’s 's written policies and procedures, Paragraph 5(g6(h) and its subparts regarding building certificates, Paragraph 6(b7(b) regarding budget, and Section 8 9 regarding insurance. ii. Second Installment. The amount of the Board’s 's second quarterly payment shall be calculated based upon the number of students enrolled at the Charter School on October 1 of each year, as verified by attendance records, multiplied by one-quarter (.250.25) of the per capita tuition amount. The second quarterly payment shall be made no later than October 15 of each year. It is understood and agreed that the second installment for each school year will be remitted only upon the Board receiving all of the information required in this paragraph.