Greater Noida (12/4/2019) : Can you bring clarity on the recent fee hike and is it within the permissible limit?
Yes, it is within the limits established in the UP Ordinance. The annual fee hike of Genesis Global School is between 7.5% and 8.5% which is within the Governments’ permissible limit. In the Uttar Pradesh Self-Financed Independent School (Fixation of Fees) Ordinance 2018, they have clearly established two reference points. Firstly, the hike in the teachers’ salaries on the one hand and the CPI (Consumer price Index) + 5% on the other. For increasing fees, Schools need to follow whichever is lower. This year the annual fee increase has been necessitated by firstly general rise in the price of commodities and services and secondly by the fact that our teacher’s salaries have increased by 17.02 % in 2018-19. The CPI + 5% reference point is also nudging 8 % on an average for April 2018 to Jan 2019. It may be higher by the time the data upto March 2019 is released.
How many parents have paid the fee according to the new fee structure?
More than 65 % of our Parents have already paid the fees. Most of our Parents are aligned with the Vision of the School and understand the continuous investment in the facilities and infrastructure. From the recently inaugurated fully airconditioned 432 seat Centre for Performing Arts to our work in Robotics including investments in Technology, Design Technology and now the new AI project.
Why is there a hike in the Security Deposit? Is it justified?
The increase is nominal, even the UP Ordinance under reference permits an amount up to 50% of the composite annual fee, but in our case, it is very much below that. In most schools it covers a term’s fee or a quarter fee. Here, when the student leaves the school this amount is either adjusted against the final dues or if the dues are paid in full, this amount along with interest is refunded to parents. In some cases, students leave the school without clearing the dues of the School. In such instances, the uncleared dues are adjusted from the security deposit.
Why there is an Imprest amount being charged? Is this something new?
It is not something new for our Scholars-in-Residence. Our boarders have always kept this amount in School towards purchases of personal items like toiletries, books and uniforms. This year keeping in mind the alarming incidents against young children in some Schools we decided to restrict adult presence on campus by implementing a new Dispersal Policy whereby all adults including Parents would drop and pick up their wards at the gate. Because of this Parents would find it slightly restrictive to enter the campus for purchasing books, uniforms or pay for low value events/functions/trips. As such we requested for an Imprest amount to be maintained at School to manage these petty expenses. The alternative was for Day Scholars to carry cash which was not preferred by the School Management.