Dear Respected CIS Parents & MCC Community Members,
A. School Fee Schedule Fall 2016/2017 Pending Decision:
MCC Board has passed a unanimous resolution on March 20th, 2016 for a general Fee Guideline of $1500 per year per child for the Fall 2016/2017 session, pending further review by the MCFC & MCC Finance Committee for its final accuracy checks before being officially published.
The final figure may potentially further decrease based on MCC/MCFC findings, however is expected not to exceed the current MCC approved school fee general guideline.
The MCC Board have also agreed in PRINCIPLE to look into the legality of the portions of the school charges to be eligible for the issuance of the "Tax-Deductible Reciepts" from MCFC, in order to pass along any such tax saving benefits to the parents. However, as a cautionary note, this option is going to be throughly reviewed with the relevant MCC Tax advisors in the coming months, before any such final plan is to be officially rolled out.
The school fee have 2 major components, that is the current minimum school fee required to cover the deficits which was determined & accordingly charged $700 per year per child since last session, and secondly the capital funds required to systematically improve our badly needed building facilities' upgrades for both campuses in the next 3 years (which currently have no such plan mechanism in place).
The currently pending MCC Board announcement for the Fall 2016 / 2017 School Fee will be passed on to the parents with new time lines of payment accordingly at that point.
Therefore, any previous announcements regarding School Fee payment deadlines such as March 31st cease to exist, until such time a new announcement is released by the MCFC in the next coming months, Insha'Allah.
It is important to note that MCC and MCFC in conjunction with Palliser intends to hold parents' awareness sessions on both campuses upon formal announcement of the fee schedules.
B. MCC Leadership's Transparency Initiatives:
Under the leadership of the current MCC in conjunction with its MCFC Management Committee has taken the following steps (in accordance with its public commitment to work towards gradual greater transparency into our tradionally closed loop systems across the board):
- Public Disclosure of its last 5 years of CIS Audited Financials conducted by KPMG & Calvista (already posted on CIS website & pending on MCC website)
- Public Discolsure of the Detailed breakdown of the current school fee schedule (already posted on CIS website & pending on MCC website)
- Public Disclosure of the Detailed breakdown of the new School Fee Schedule Fall 2016/2017 (pending to be posted on both websites)
- Establishment of the Education Sub-Committee under MCFC, with all the relevant stakeholders of the school which includes 2 members each from the MCC, MCFC & CIS-School Council. This MCFC Sub-Committee will assist to provide recommendations and oversight to the MCFC Management on capital project expenditure priorities associated with the exisiting school building upgrades.
- Establishment of a separate specific MCFC- School Capital Project allocated bank account, with an audited year end Financials.
- Public Disclosure of all the MCC related organizations' under MAC and MCFC last 5 years' of Audited Financials due before July,2016 AGM (currently being conducted by the KPMG Auditors)
Thank you and Jazak'Allah khair!
On behalf of your Muslim Council of Calgary Board of Directors.