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November 26. 2013 9:54PM

Pinkerton Academy will issue refunds to Derry, Chester and Plaistow

DERRY — After crunching the numbers, Pinkerton Academy will be issuing refunds to three of its sending towns.

Refunds will be going out to Derry, in the amount of $22,401, Hampstead, for $24,143, and Chester, $29,359, said Glenn Neagle, the school’s financial administrator.

The refunds were determined after an outside accounting firm conducted an audit for the 2012-13 school year, Neagle said.

The audit compared tuition to total expenses.

“If tuition was billed higher than total expenses, we issue the sending towns a refund,” Neagle said.

Auburn didn’t receive a refund because it didn’t officially become a sending town until this year.

Sending towns are billed for 50 percent of tuition in October, with the towns also billed at 25 percent in January and the remaining 25 percent in April.

The refunds can be used against the sending town’s first installment in October.

“When it goes out in October, we deduct the refund from it,” he said.

It isn’t that unusual for Pinker ton to issue refunds, Neagle said, adding that he thought refunds have been issued to towns in 11 of the last 12 years.

“The amount varies from year to year,” Neagle said. “Some years it’s larger; it’s really hard to say.”

Administrators are working on setting the tuition rate for the 2014-15 school year.

The 2013-14 tuition rate for students is $10,292.49.

Neagle said the rate typically increases but can be affected by special education programs. The 2014-15 tuition rate is being figured, and administrators must finish meeting with the sending towns before the new rate is determined.

hmcgee@newstote.com


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