Financial Policy

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Beavers Academy – Financial Policy

Beavers Academy Financial Policy

Terms and Conditions

Introduction

At Beavers Academy, we are committed to delivering exceptional education while maintaining transparency and fairness in all financial matters.

This financial policy is designed to provide clear and consistent guidelines, ensuring mutual understanding and trust from everyone.

Payment of Fees and Levies Requirement

Full and prompt payment of fees and levies should be made within the first month of each term. Should an extension be required, permission should be sought from Beavers Academy Management. No agreed extension will go beyond the third month of the term.

Without prejudice: your child/ren will be asked to remain at home and will not be put forward for their end-of-term exam, graduation, or any other Academy activities until all outstanding balances are paid.

Feeding Fee

The payment for feeding can be undertaken weekly, monthly, or termly.

Invoices

Invoices will be issued at the end of each term and will include any additional payments and levies required. An amount of GHC 30.00 will also be added for non-attendance at PTA meetings without prior notice.

Usage of Fees

  • Payment of salaries and statutory contributions for teaching, administrative, and non-teaching staff.
  • Maintenance of buildings, grounds, and other facilities to ensure the Academy remains open throughout the year.
  • Payment of regulatory obligations (e.g., SSNIT, NaSIA Inspectorate Body, TWMA Renewals, GRA, and other levies).

Methods of Payment

The following payment methods are available:

  • EcoBank Account: 1441002426602
  • Cheque: Payable to Beavers Academy
  • Mobile Money: 053 511 2266 (Name: Lehona Owusu-Darko)

Ensure you obtain a receipt outlining the amount paid and any outstanding balance. Notice will be provided before any changes are made to the payment methods.

Sponsorship

Throughout the year, Beavers Academy management may appeal to friends of the Academy for financial support to assist families in extreme hardship. Any donations received will be allocated by the management towards payment of fees, and parents will be notified of the amount and the support duration.

Refund or Waiver of School Fees

Save for legal liability under a court order or this agreement, fees will not be refunded or waived for the following reasons:

  • The school is temporarily closed (e.g., due to adverse weather conditions).
  • A parent removes their child/ren before the end of the school day or term.
  • The pupil is absent through illness.
  • A term is shortened, or a vacation is extended.
  • Other reasonable circumstances.

Information Sharing

Beavers Academy may verify outstanding balances with a child’s previous school as part of the admission process. If a child leaves Beavers Academy with outstanding debts, the forwarding school will be informed.

Fee Increases and Payment Terms

Fees are reviewed annually and are subject to increase. Parents will be notified at least one term in advance of any changes. Payment terms will be reviewed termly.