SL | Standard | Academic Year/s | Projected students | Approved annual fee per student | Projected Total income |
---|---|---|---|---|---|
1 | Standard XI (Science Stream) |
2024-2025, |
500 |
Annual fee
:47,000 One time fee from new student :0 Refundable Fee : 0 Total fee :47,000 |
2,35,00,000 |
2 | Standard XII (Science Stream) |
2024-2025, |
500 |
Annual fee
:48,300 One time fee from new student only :0 Refundable Fee : 0 Total fee :48,300 |
2,41,50,000 |
3 | Standard XI (Arts Stream) |
2024-2025, |
200 |
Annual fee
:40,500 One time fee from new student only :0 Refundable Fee : 0 Total fee :40,500 |
81,00,000 |
4 | Standard XII (Arts Stream) |
2024-2025, |
250 |
Annual fee
:40,700 One time fee from new student only :0 Refundable Fee : 0 Total fee :40,700 |
1,01,75,000 |
5 | Standard XI (Commerce Stream) |
2024-2025, |
100 |
Annual fee
:40,500 One time fee from new student only :0 Refundable Fee : 0 Total fee :40,500 |
40,50,000 |
6 | Standard XII (Commerce Stream) |
2024-2025, |
100 |
Annual fee
:40,700 One time fee from new student only :0 Refundable Fee : 0 Total fee :40,700 |
40,70,000 |
The FRC has examined the proposals of both Pragjyotika English School and Pragjyotika Senior Secondary School, as both the schools are administered by the same trust namely "Pragjyotika Foundation". The institution has provided amalgamated financial projections for both the Schools. On examination, the following facts are noticed:
1. The expenditure on salaries of both the schools has been mentioned as Rs.5.65 Cr. in the proposed budget. Whereas, from the staff details it is seen that the salary is Rs.2.17Cr.(High School section) and Rs.3.08Cr.(Higher Secondary). Also, in the High School EPF/ESI is mentioned but in the Higher Secondary School, it is not mentioned. So, the FRC is considering the amalgamated EPF/ESI amount mentioned in the budget - Rs.32.65 Lakhs.
Accordingly, the total expenditure on salary against both schools, excluding EPF/ESI comes to Rs.5.25Cr. Hence, the school has shown inflated figures on salary expenses.
2. The total amount of fees collected comes to Rs. 12.38 Cr. as calculated from the no. of students and fees proposed to be charged by both the schools {4.85 Cr. (High School) and 7.53 Cr. (Higher Secondary)}. Whereas, in the amalgamated budget the amount shown under the fees collected head is Rs.8.4Cr.
That means income has been deflated by Rs.3.98 Cr.
3. In the amalgamated budget of both the schools there is a surplus of Rs.61.94 Lakhs (despite the deflated income and inflated salary expense)
Therefore, the committee has decided that the proposed fee structure is not justifiable, and accordingly, the fee structure is reduced from the proposed structure.