Accounting Guidelines & Procedures

Accounting Guidelines and Procedures

      Accounting Guidelines & Procedures

1. Schedules & Modes of Payment
2. Tuition Fee, Miscellaneous, & Other Fees may be paid according to  the following schedules and modes:
   1. Annual – upon enrollment and/or before  classes begin.
   2. Semi-annual – downpayment upon enrollment and balance in October.
   3. Quarterly – downpayment upon enrollment and balances in August, October, December, and February.
   4. Bi-monthly – downpayment upon enrollment and balances in July, September, November, January and March.
   5. Monthly - downpayment upon enrollment and balances in the first week of July and of each succeeding month.
3. For E.C.E. pupils: only cash, semi-annual and quarterly modes of payment are applicable.
4. Books, uniforms and other school supplies required of students should be paid in cash upon enrollment or before the opening of classes at the latest.

Statement of account shall be issued to parents / guardians. However, with or without this parents / guardians  should promptly pay accounts on due dates.

2. Withdrawals & Refunds

In accordance with the Rules and Regulations of the Department of Education (Manual of Regulation for Private School, 1992, 8 ed.), withdrawals and refunds are subject to the following conditions:

1. All other fees (including reservation deposit) other than tuition are non-refundable.
2. Tuition refund will be granted on the following conditions:
   • 100% - if withdrawal is done earlier than 15 days prior to the opening of formal classes.
   • 90% - if withdrawal is done earlier than 7 days prior to the opening of formal classes
   • 80% - if withdrawal is done 1-3 days prior to the opening of formal classes.
   • 70% - if withdrawal is done on the first week of formal classes.
   • 60% - if withdrawal is done on the second week of formal classes.
   • No refund shall be done after the second week of formal classes and at anytime during the school year regardless of whether or not the child has actually attended classes.
   • In case of withdrawal at the middle of school year by students whose parent have chosen any of the non – annual mode of payment, the parents / guardians shall be required to pay all the fees for the entire duration of the school year.

       iii. Tuition refund will be made on the total tuition for the term. Processing period will be one (1) week.

      3. Availment of  Discounts & Scholarships

a. Sibling Discounts Applicable to Tuition Fees only

b. Academic Discounts

Notes for new pupils / students who would like to avail of the Academic                                                               

Discounts:

1. Grant is applicable for grade school and junior high school only;
2. Class size of school of origin must be at least 20 pupils / students; and
3. Photocopy of Government Permit or Recognition of school of origin must be submitted.

c. Athletic Discounts for Most Valuable Players, Mythical Team Members of RCBN – ES Tournament and Champions of National & Regional Competitions (Academic and Sports) Only Upon Presentation of Proper Credentials, in this light:

1. MVP                                                   -                50 %
2. Mythical Team                                   -                30%
3. Champions Regional Competitions   -                50%
4. Champions National Competitions    -                75%

d. Charity Discounts/Scholarships for Poor but Deserving Students

    Criteria of Selection of the Beneficiaries:

1. The student must come from a real poor family;
2. He/She must pass the entrance test & interview;
3. He/She should be able to maintain good grades in all subjects;
4. He/She must exude desirable values; and
5. He/She must be willing to reasonably share time, talent, & treasure while progressively engaged in studies.

4. Surcharges & Penalties

1. Every non-payment of an outstanding balance shall be charged 1% each month.
2. Students who were unable to take the periodic exams on the regular dates due to non-payment of tuition fee by his/her parent(s) will be given special examinations one (1) week after the regular schedule. A fee of P50.00 per subject will be charged to the student’s account.
3. Bouncing checks shall be charged P500.00 for insufficient funds and P1000.00 for closed account.  Parent/guardian who has incurred any or both of these cases will no longer be allowed to pay in check.

5. No permit, no exam policy. If and when the pupil / student is unable to take the exams on the regular schedule due to non - payment of a tuition fee, the concerned exams shall be administered to the pupil / student 5 – 7 days thereafter at Php 50.00 per subject. This amount shall be charged to the account of the pupil / student.

6. Back Accounts

The school shall exercise its right to refuse admission or enrollment to a student with back accounts.