SCRIP

‘Scrip’ is simply another word for gift cards or gift certificates used the same as cash for everyday purchases of consumer goods and services.  The Scrip Program purchases these gift cards/certificates at a discount, sells them at face value then considers the difference between face value and the discounted purchase price ‘profit’. 

For example, if a family spends $100 worth of gasoline per week, they first purchase a $100 Speedway gift certificate from the Scrip Program.  The family pays $100 for a $100 gas card.  Gasoline fill ups are paid with the gift card (unused balance remains on the card until spent). 

A $4.00 profit was earned by paying for the gasoline with the gift card instead of cash (or credit card). For example, the $100 Speedway gift card carries a discount percentage of 4%.  This means the Scrip Program paid $96 to purchase the card.  The family paid $100 so, therefore, a $4.00 profit ($100 x 4%=$4.00) was earned on the transaction.  The family did not pay any extra money out of their pocket than they would have normally spent on gasoline.       

Families are able to select how this $4.00 profit is spent from one of the following choices:

• 75% St. Mary’s Family Tuition Credit / 25% St. Mary’s Technology Fund
• 100% St. Mary’s Technology Fund
• 75% St. Mary’s Parish / 25% St. Mary’s Technology Fund
• 75% St. Mary’s Religious Education Program / 25% St. Mary’s School Technology Fund

St. Mary’s Scrip Program supports families with tuition credit for Preschool – 8th Grade and/or religious education. Also, the Technology Fund provides technological improvements/enhancements for the educational and administrative needs of the school and church.   During the 2006/2007 school year, families participating in the Scrip Program earned $42,000 tuition credit and $16,000 for the Technology Fund.  The Technology fund purchased a server for the Computer Lab, upgraded computers, a Yearbook camera with accessories, software, licensing, wiring and technical support for the school.