Holdback/Proration. In the event of a statewide holdback or proration which reduces the Sponsor’s district funding, the School’s funding will be reduced proportionately in accordance with Section 1002.33(17), Florida Statutes. In the event the Sponsor’s district exceeds the state cap for WFTE in any expenditure category of programs established by the Legislature, resulting in unfunded WFTE for the district, then the School’s funding shall be reduced to reflect its proportionate share of any unfunded WFTE. If the Sponsor receives notice of an FTE or other 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. 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, which shall within thirty (30) days refund the amount of the assessment. If the School fails to open, through no fault of the Sponsor, the School shall reimburse the full amount of any funding provided by the Sponsor. The School shall reimburse the full amount to the Sponsor within thirty (30) days. The School will be responsible for an additional fee of 1% per month on the unpaid balance after 30 days from the date of notice of such assessment.
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