Financial Management

Elmwood OSCAR is financially viable and manages its finances competently.

Financial Management

Income Sources

Primary sources of income include:

• Parents fees

• Voluntary contributions/donations

• Subsidies

• Grants

Payment of Fees

All invoices are distributed bi-weekly using Enrolmy. Fees will be payable by internet banking.

• The Treasurer will be responsible for receiving and receipting the fees for the programme.

• Parents will be sent an invoice fortnightly via the Enrolmy software programme, and parents with overdue amounts will be followed up on a regular basis.

• Income from parental fees will be recorded in the income and expenditure report using Xero as our accounting software programme.

• A financial report on our accounts is produced annually by Community Capacity Accounting.

OSCAR Subsidies

It is the responsibility of each parent/caregiver who wishes to apply for a subsidy to obtain a Childcare and Oscar Subsidy Application form from the Work and Income website https://www.workandincome.govt.nz

• The parent/caregiver will need to complete the relevant sections on the form and approach the staff to complete the sections on behalf of the programme.

• Once both parties have completed and signed the form, parents will be advised that it is their responsibility to send off the forms to WINZ themselves. The parents will be responsible for paying the full cost of the programme if their application for subsidies is declined.

Terms and Conditions of Fee Payment

Invoices are sent every two weeks. Fees must be paid by the due date. If fees are in arrears at the end of the term, a late payment fee of 10% may be charged. If an overdue invoice is not rectified or a suitable repayment plan put in place and adhered to, the account will be forwarded to a debt collection agency. Any expenses incurred by this are payable by the parent/caregiver. All future bookings (including holiday programmes and bookings for the next term) will be subject to paying arrears.