[Mail_treas] True-Up Policy

[Scott Paul]

Hello everybody,

Many people asked about sharing any policy results that I received. Nobody
sent me a policy, so I am just adding the following paragraph to our
purchasing policy. This is more a concern with our community school (our
community school adopts the District's policies), but I am adding it to the
District just in case the situation arises. Let me know if you have any
questions.

*True-Up Reconciliation*

The Treasurer should true-up any contracts and/or agreements that are paid
based on current year student counts (ADM or FTE). The District understands
the following: 1) that the School’s FTE is subject to change by ODE
throughout the school year;  2) that the School’s final contractual
liability to the Contractor shall be determined by the final number of
FTE’s determined and accepted by ODE for the school year; and 3) if the
Contractor has been overpaid (a material amount) based on the School’s
final FTE as determined by ODE, the District shall require the Contractor
to repay the amount of such overpayment  (if determined to be material) to
the School within 30 days of receiving notice of such overpayment.




*Scott M. Paul, Treasurer*

*Franklin Local School District/Community School*










*P.O. Box 428, 360 Cedar StreetDuncan Falls, Ohio   43734Phone:
740-674-5203Fax: 740-674-5214Email:  scott.paul at franklinlocalschools.org
<scott.paul at franklinlocalschools.org>*
*"*

*An investment in knowledge always pays the best interest"*

*                                        - Benjamin Franklin*

On Mon, Apr 2, 2018 at 9:56 AM, Scott Paul <
scott.paul at franklinlocalschools.org> wrote:

> Hello,
>
> Has anybody had their Board pass a true-up policy? The policy would cover
> when a vendor calculates payment based on ADM and the process for when the
> ADM changes and recalculating the payment. Thanks in advance.
>
>
> *Scott M. Paul, Treasurer*
>
> *Franklin Local School District/Community School*
>
>
>
>
>
>
>
>
>
>
> *P.O. Box 428, 360 Cedar StreetDuncan Falls, Ohio   43734Phone:
> 740-674-5203 <(740)%20674-5203>Fax: 740-674-5214 <(740)%20674-5214>Email:
>  scott.paul at franklinlocalschools.org <scott.paul at franklinlocalschools.org>*
> *"*
>
> *An investment in knowledge always pays the best interest"*
>
> *                                        - Benjamin Franklin*
>

-- 

------------------------------
*CONFIDENTIALITY/PRIVACY NOTICE:*
This message, and any attachments transmitted with it, is for the 
designated recipient only and may contain privileged or confidential 
information. If you have received it in error please notify the sender, via 
return e-mail, immediately and permanently delete the original. Any 
unauthorized review, disclosure, dissemination, distribution, or copying of 
this e-mail is strictly prohibited. This message and any response to it may 
constitute a public record and, therefore, may be subject to disclosure 
upon request under Ohio law.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listserv.mveca.org/pipermail/mail_treas/attachments/20180403/bf7a981b/attachment.htm>