The Facebook group I Am A Homeschool Group Leader recently helped one leader, Particia, with managing her co-op’s supply fees:
We have the teachers… reimbursed dependent upon how many students they have in that class. This is not working! We must set class fees before the schedule goes out (obviously), but sometimes the teachers may end up with 3 in their class, and sometimes 15. Therefore, sometimes they divide the cost of their curriculum among more students then they receive, and we can only reimburse them the amount that we take in. Please tell me a better way to handle class fees!
My comment on charging fees: Since I’m a CPA, I think like I was taught in my accounting classes. You have fixed costs (same regardless of number of students such as a teacher’s guide or equipment the entire class uses) and variable costs (increase as number of students increase such as individual books). Some classes have both fixed and variable costs. Most probably have only variable costs.
I recommend in my book “Money Management for Homeschool Organizations” that you charge more than enough to cover your variable costs. IOW, include a buffer for the variability.
https://homeschoolcpa.com/
Consider this policy: The co-op could reimburse for fixed costs if the co-op remains the owner of the book/equipment. If the teacher wants to keep the book/equipment herself then there is no reimbursement. This assumes the co-op wants to own some supplies and has enough in their budget to purchase them.
Patricia replied: Yes Carol, I have read that before! We do pay for certain curriculum that the group itself can then accept ownership of, and loan out to families who may need it in the future.
But, the idea of the teacher paying for the books that she is keeping, is a great idea! That would definitely help with the cost of the class, by focusing mostly on the variables. I have an accounting back ground as well, I think that’s why this stuff drives me crazy!!!
Miriam explains how her group manages the money:
We don’t buy any supplies for our teachers because they are considered independent contractors. The teachers set their material fees and those fees are collected in May. On July 15th teachers can deposit them, but they are refundable up through August 7th if a family drops the class. Material fees vary according to subject. Tuition is a set yearly fee and is collected in monthly installments, if parents wish to pay that way. Materiel fees collected in May by registrar, tuition collected by teachers (we have folders for parents to put checks into and teachers collect at the end of the day).
If you are a homeschool group leader that would like to join this conversation, please “request to join” with a note stating that you are a homeschool group leader and where you lead.
https://www.facebook.com/groups/72534255742/
