Article VII. Finances
Income from tuition, fees, gifts, endowments, and fund
raising activities must be adequate to support a high-quality educational
program.
A. Salaries and benefits are sufficient to attract and hold competent teachers, administrators, and staff members.
** B. There are adequate supplies, current textbooks, age-appropriate furniture, and technology equipment available for the operation of the educational program.
C. An annual budget is proposed by the administration, adopted by the governing body, or church body and managed by the administration. Monthly and annual financial statements are prepared and distributed according to policy.
D. An annual review of financial transactions is conducted by someone outside the church administration, school administration, or school board. Verification must be on file in the board's minutes. If the accounting procedures are operated jointly in the church office, school funds are administered separately from church funds. Funds collected by the school may not be appropriated by the church outside of regular reimbursements.
** E. There is a willingness by the church/sponsoring body to underwrite any school expenses which the school is unable to pay. This standard does not apply to independent schools.
F. No abrupt terminations of grade offerings should occur. Due consideration for the educational welfare of students will cause a church to phase out its school (if so desired), in a manner that is in the best interest of the students currently enrolled.
G. Funds are available for staff development, including travel expense funds for administrators and teachers.
** H. There are enough support staff employees to serve the operation of the school adequately and enough teachers that classes do not become unreasonably large.
A. Salaries and benefits are sufficient to attract and hold competent teachers, administrators, and staff members.
** B. There are adequate supplies, current textbooks, age-appropriate furniture, and technology equipment available for the operation of the educational program.
C. An annual budget is proposed by the administration, adopted by the governing body, or church body and managed by the administration. Monthly and annual financial statements are prepared and distributed according to policy.
D. An annual review of financial transactions is conducted by someone outside the church administration, school administration, or school board. Verification must be on file in the board's minutes. If the accounting procedures are operated jointly in the church office, school funds are administered separately from church funds. Funds collected by the school may not be appropriated by the church outside of regular reimbursements.
** E. There is a willingness by the church/sponsoring body to underwrite any school expenses which the school is unable to pay. This standard does not apply to independent schools.
F. No abrupt terminations of grade offerings should occur. Due consideration for the educational welfare of students will cause a church to phase out its school (if so desired), in a manner that is in the best interest of the students currently enrolled.
G. Funds are available for staff development, including travel expense funds for administrators and teachers.
** H. There are enough support staff employees to serve the operation of the school adequately and enough teachers that classes do not become unreasonably large.