Common use of Holdback/Proration Clause in Contracts

Holdback/Proration. In the event of a state holdback or a proration which reduces funding, the School’s funding will be reduced proportionately. In the event that the Sponsor’s district exceeds the state cap for WFTE for any expenditure category of programs established by the Legislature, resulting in unfunded WFTE for the Sponsor’s district, then the School’s funding shall be reduced to reflect its proportional share of any unfunded WFTE and the School’s funding will be reduced to reflect its proportionate share of any unfunded WFTE. In addition, should the Sponsor receive notice of an FTE funding adjustment which is attributable to error or substantial noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due the School. In the event that the assessment is charged near the end of or after the term of this Charter where no further payments are due the School, the Sponsor shall provide prompt notice to the School which shall refund the Sponsor the amount of the assessment within thirty (30) days. The School will be responsible for an additional fee of one percent (1%) per month on the unpaid balance after thirty (30) days from the date of notice of such assessment.

Holdback/Proration. In the event of a state holdback or a proration which reduces funding, the School’s funding will be reduced proportionately. In the event that the Sponsor’s district exceeds the state cap for WFTE for any expenditure category of programs established by the Legislature, resulting in unfunded WFTE for the Sponsor’s district, then the School’s funding shall be reduced to reflect its proportional share of any unfunded WFTE and the School’s funding will be reduced to reflect its proportionate share of any unfunded WFTE. In addition, should the Sponsor receive notice of an FTE funding adjustment which is attributable to error or substantial noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due the School. In the event that the assessment is charged near the end of or after the term of this Charter where no further payments are due the School, the Sponsor shall provide prompt notice to the School which shall refund the Sponsor the amount of the assessment within thirty (30) calendar days. The School will be responsible for an additional fee of one percent (1%) per month on the unpaid balance after thirty (30) days from the date of notice of such assessment.

Holdback/Proration. In the event of a state holdback or a proration which reduces funding, the School’s funding will be reduced proportionately. In the event that the Sponsor’s district exceeds the state cap for WFTE for any expenditure category of programs established by the Legislature, resulting in unfunded WFTE for the Sponsor’s district, then the School’s funding shall be reduced to reflect its proportional share of any unfunded WFTE and the School’s funding will be reduced to reflect its proportionate share of any unfunded WFTE. In addition, should the Sponsor receive notice of an FTE funding adjustment which is attributable to error or substantial noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due the School. , provided that the Sponsor, having received notice of such FTE funding adjustment, has sent notice to the School of the alleged errors so that the School on its own, or through the Sponsor, at the School’s expense, may participate in any proceeding to challenge or appeal such audit findings.. In the event that the assessment is charged near the end of or after the term of this Charter where no further payments are due the School, the Sponsor shall provide prompt notice to the School which shall refund the Sponsor the amount of the assessment within thirty (30) days. The School will be responsible for an additional fee of one percent (1%) per month on the unpaid balance after thirty (30) days from the date of notice of such assessment.