Common use of Holdback/Proration Clause in Contracts

Holdback/Proration. i. In the event of a state holdback or a proration, which reduces district funding, the School's funding will be reduced proportionately. ii. If the Sponsor receives notice of an FTE funding adjustment, which is attributable to noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due to the School. iii. If the assessment is charged near the end of or after the term of the Charter, where no further payments are due to the School, the Sponsor shall provide prompt notice to the School and the School shall reimburse the full amount to the Sponsor within thirty (30) days 2) Federal Funding a) Title I i. Any Title I funds allocated to the School must be used to supplement student’s greatest instructional needs that have been identified by a comprehensive needs assessment of the entire School and shall be spent in accordance with federal regulations. The academic program funded through Title I shall include Reading, Language Arts, Mathematics, and Science. ii. The allocation of Title I Funds shall be made in accordance with the Public Charter Extension Act of 1998 and all corresponding guidance and regulations. iii. If the School accepts Title I funds, at least one (1) percent of the Title I funds budget must be spent in support of parental involvement activities. iv. Any equipment item purchased with Title I funds costing $1000 or more, which is classified as Capitalized Audio Visual Equipment, remains the property of Title I. This property must be identified, labeled, and made readily available for Title I property audits. v. The Sponsor’s Title I staff will provide technical assistance and support in order to ensure that Title I guidelines are being followed at the School and that vi. All documentation, including, but not limited to, Title I Accountability and Technical Assistance Team (A-TAT) School Site Compliance documents, agendas, schedules, minutes, time sheets, receipts, invoices, purchase orders, rosters, etc., must be maintained at the School for a minimum of five years as evidence to validate the use if Title I school site allocations.

Holdback/Proration. i. In the event of a state holdback or a proration, which reduces district funding, the School's funding will be reduced proportionately. ii. If the Sponsor receives notice of an FTE funding adjustment, which is attributable to noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due to the School. iii. If the assessment is charged near the end of or after the term of the Charter, where no further payments are due to the School, the Sponsor shall provide prompt notice to the School and the School shall reimburse the full amount to the Sponsor within thirty (30) days days. 2) Federal Funding a) Title I i. Any Title I funds allocated to the School must be used to supplement student’s greatest instructional needs that have been identified by a comprehensive needs assessment of the entire School and shall be spent in accordance with federal regulations. The academic program funded through Title I shall include Reading, Language Arts, Mathematics, and Science. ii. The allocation of Title I Funds shall be made in accordance with the Public Charter Extension Act of 1998 and all corresponding guidance and regulations. iii. If the School accepts Title I funds, at least one (1) percent of the Title I funds budget must be spent in support of parental involvement activities. iv. Any equipment item purchased with Title I funds costing $1000 or more, which is classified as Capitalized Audio Visual Equipment, remains the property of Title I. This property must be identified, labeled, and made readily available for Title I property audits. v. The Sponsor’s Title I staff will provide technical assistance and support in order to ensure that Title I guidelines are being followed at the School and thatthat students are meeting high content and performance standards. vi. All documentation, including, but not limited to, Title I Accountability and Technical Assistance Team (A-TAT) School Site Compliance documents, agendas, schedules, minutes, time sheets, receipts, invoices, purchase orders, rosters, etc., must be maintained at the School for a minimum of five years as evidence to validate the use if Title I school site allocations.