| First created | June 2010 |
| Last reviewed | 12 June 2023 |
| Review cycle | Two years |
| Approver | Senior Leadership Team |
| Owner | Finance Manager |
| Stakeholders | Staff, parents |
Overview #
The fees charged to families are based upon the three eldest children attending the College. Fees are prescribed in the annual budget, approved at the Annual general meeting and are calculated to cover the full cost of education, with a provision for fee relief to be allocated to families in need. (Refer also to the Fee Relief Policy)
Operational Method #
- Fees are billed in advance, once per term. All families are required to settle their fee accounts in full by the end of each school term. Families are required to make an election regarding the method and frequency of intended payments. Families may continue to pay for the preceding term during the school holidays immediately following each term. Payment may be made annually, termly, monthly, fortnightly or weekly, so long as the account for each term is settled before the commencement of the following term. Where a family elects to pay the termly amount in one payment, the amount is required to be paid by 25 February, 25 May, 25 August and 25 October in each of terms 1 to 4 each year. In the case of an annual election, payment is due by 15 February.
- Families who have been awarded fee relief are required to settle the remaining balance of their account before the commencement of each successive term as above. Once fee relief is granted, the family is required to settle the balance by direct debit, Centerpay, or a combination of these, and no alternative payment method is offered.
Payment Methods #
All families are strongly encouraged to make payment by automatic direct debit. Payment may also be made by cash or cheque at any administration office, or by EFT or credit card at the Business Office. Payment by credit transfer to the College account is also available. In addition, families may direct their Centerpay payments towards their school fees by arrangement.
Procedure For Recovering Arrears Balance #
- If the administrators note that a family has missed a scheduled payment, first contact is made, either by telephone, in person or in writing, as soon as is practical. (Contact 1, informal).
- If the required amount is not received within 14 days of the initial contact, the family will be contacted a second time, in writing, requesting immediate settlement of the arrears. (Contact 2, written).
- If, within a further period of 7 days, the arrears remain unsettled, the family will be contacted again to arrange an appointment with the Finance Manager or his/her delegate, to discuss any difficulty in making payment. (Contact 3, written).
- At this meeting, the Finance Manager may negotiate extended/acceptable payment terms with the family. These terms will be noted on the family’s financial file. (Contact 4, meeting).
- If the new negotiated terms are not adhered to, one further formal letter, the final demand, will be sent. This letter will include a warning that the intervention of the College Solicitors is being considered. (Contact 5, formal written letter of intent).
- The family will be given a further period of 14 days after the fifth contact in which to rectify the account, failing which, the family will be advised that account will be referred to solicitors for recovery within 7 days. (Contact 6, final notice).
- If the procedures as outlined above are unsuccessful in recovering an amount due, the Finance Manager will instruct solicitors in the matter. The Finance Manager will advise the CEO of this outcome. The solicitors will be authorised to take any action necessary to recover the debt, with the caveat that the solicitors will not enter a Court of Law to represent the College in a matter relating to the recovery of a debt without the prior approval of the Board.