CVO Schools
Financial contributions towards schools
This report will help management teams when they plan the 4-month action plan. We publish the financial liability towards schools individually. The software calculates a liability based on the number of people who registered.
What is important to know is that our liability towards employees and towards schools who order Gift-Cards to purchase products from Retail stores will be managed by paying out 100% onto those individual cards. Employees will in theory receive a kind of salary increase when they do not need to use their own funds in future to purchase groceries.
The school will also save funds when retail costs are covered. There will be an amount we need to EFT on a monthly basis to schools which is calculated on parents, and friends and family who opt to support the school. (Also including business owners who opt to support school) It will be R0,50 per R1 spent by shareholders linked to the school.
When an employee resigns from the school, our commitment towards the employee will be that he/she will then only receive 50% of their retail spending. The employee then became an “Friend of the School”. The amount we need to EFT to school will then increase with 50% of the employee’s retail spending.
This report will on a daily basis be updated, after we approved applications from people who registered to become “Shareholders”
We publish the investment value arranged by the number of "Shareholders" linked to the school on the report below. We used ABSA's 5,70% return on Fixed Deposit rates to calculate how much funds the school will need on investment to be able to secure additional income that will in the near future be available for schools. Readers will be able to view the individuals linked to the school on the "Shareholders" report.