International Students

FEE PROTECTION PROCEDURE

 

The income derived from foreign fee-paying students must be protected against the possibility of an interruption to the course. Internal procedures assist the school in monitoring income and expenditure to ensure that money is controlled appropriately.

 

To comply with the Tawa Intermediate Policy on International Student Fee Protection the following Procedures are to be followed:

 

1. Student Fee income will be deposited in a separate Tawa Intermediate School Board of Trustees Bank Account.

 

2. International Student Fee Income will be coded to a separate ledger code in the Financial Accounting System.

 

3. International Student Tuition Fees will be treated as ‘Income in Advance’ and will be shown in the Balance Sheet until the school has earned the monies.

 

4. International Student Tuition Fees will be transferred to the Operating Statement one term in arrears.

 

5. The Board will ensure monies will be available for refunds resulting from;

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a) the termination of the tuition contract

b) the school no longer being a signatory to the code

c) the school ceasing to be a provider of education for international students, or

d) when the school is unable to continue to deliver a programme.

 

6. Monthly reporting to the board details both income and expenditure and is monitored closely.

 

Tawa Intermediate has arranged appropriate insurance that provides professional indemnity protection for the school and trustees’ liability covering Fee Protection.  This cover is provided by MOE Insurance Scheme.