‘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.
