Common use of Operating Account and Expenditures Clause in Contracts

Operating Account and Expenditures. By July 1 of each year, the CFO shall establish an operating account for DSNCS in the amount of the Lump Sum Budget (the “DSNCS Operating Account”). Only DSNCS’s Principal and/or his/her designee(s) shall authorize expenditures from its operating account. DSNCS shall establish and maintain a separate bank account under its exclusive control (hereinafter, the “DSNCS Bank Account”). BPS agrees to transfer funds on a quarterly basis (January, April, July and October) from the DSNCS Operating Account to the DSNCS Bank Account. The July quarterly transfer will be based upon DSNCS’s projected enrollment for the upcoming academic year. The remaining quarterly transfers (October, January and April) will be based upon the actual enrollment of DSNCS on the final school day of the month prior to the quarterly transfer date. After the CFO performs a year-end reconciliation at the close of the BPS’s fiscal year, any remaining funds from DSNCS’s Operating Account will be transferred to the DSNCS Bank Account. Expenditures from the DSNCS Bank Account shall be made in accordance with all applicable laws, ordinances, and regulations. DSNCS shall purchase such goods and services from the BPS as set forth in the non-instructional services section of the Application (including, but not limited to, technology and athletics) at costs reasonably determined by BPS, and for all such non-instructional goods and services purchased, DSNCS may request, and the BPS shall provide in response to such request, an annual report detailing the scope of goods and services provided and the cost of such non-instructional goods and services purchased. In addition, DSNCS shall have the option to purchase additional, non-instructional goods and services that have not been specified in the Application as DSNCS shall from time to time determine. DSNCS agrees that it shall be responsible for all costs associated with the operation of DSNCS, except those services provided by BPS according to the terms of Section 2 above (including, but not limited to: transportation, employee benefits, facilities, safety and other central office services). DSNCS further agrees it shall indemnify and hold harmless the BPS, its officers, agents or employees from all claims resulting from any costs incurred by DSNCS, its Board, officers, agents or employees in association with the operation of DSNCS.

Operating Account and Expenditures. a. By July 1 of each year, the CFO shall establish an operating account for DSNCS in the amount of the Lump Sum Budget (the “DSNCS Operating Account”). Only DSNCS’s Principal and/or his/her designee(s) shall authorize expenditures from its operating account. . b. DSNCS shall establish and maintain a separate bank account under its exclusive control (hereinafter, the “DSNCS Bank Account”). BPS agrees to transfer any funds on not allocated or budgeted for salaries or stipends at least two times a quarterly basis (Januaryyear, April, July and October) with the first transfer coming no later than September 1 from the DSNCS Operating Account to the DSNCS Bank Account. The July quarterly first transfer will be based upon DSNCS’s projected enrollment for a the upcoming academic yeardifference between the total Lump Sum Budget provided by BPS to DSNCS and an estimate of the amount of funds DSNCS anticipates spending on stipends and salaries. The remaining quarterly transfers (October, January and April) amount of this transfer will be based mutually agreed upon by the CFO of BPS and the Principal at DSNCS. The second transfer will occur by January 31 and will only be necessary if there is an increase in the difference between the total Lump Sum Budget provided by BPS to DSNCS and the estimated amount of funds DSNCS anticipates spending on stipends and salaries. For example, the transfer in January will be necessary if DSNCS receives more in its BPS Lump Sum Budget after accounting for actual enrollment of DSNCS on at DSNCS, per the final school day process described above. The third transfer may occur after the end of the month prior to the quarterly transfer datefiscal year, no later than August 31. After the CFO performs a year-end reconciliation at the close of the BPS’s fiscal year, any remaining funds from DSNCS’s Operating Account will be transferred to the DSNCS Bank Account. Expenditures from the DSNCS Bank Account shall be made in accordance with all applicable laws, ordinances, and regulations. . c. DSNCS shall purchase such goods and services from the BPS as set forth in the non-instructional services section of the Application (including, but not limited to, technology and athletics) at costs reasonably determined by BPS, and for all such non-instructional goods and services purchased, DSNCS may request, and the BPS shall provide in response to such request, an annual report detailing the scope of goods and services provided and the cost of such non-instructional goods and services purchased. In addition, DSNCS shall have the option to purchase additional, non-instructional goods and services that have not been specified in the Application as DSNCS shall from time to time determine. DSNCS agrees that it shall be responsible for all costs associated with the operation of DSNCS, except those services provided by BPS according to the terms of Section 2 above (including, but not limited to: transportation, employee benefits, facilities, safety and other central office services). DSNCS further agrees it shall indemnify and hold harmless the BPS, its officers, agents or employees from all claims resulting from any costs incurred by DSNCS, its Board, officers, agents or employees in association with the operation of DSNCS, other than facilities costs covered in Section 4 below.