A lot of people were excited that Direct Funding was returning albeit with many caveats such as:
- Only for those kids 12 and up
- Only for those who have been on invoice funding for 2 years
- Only for those families who are organized enough to apply at least 60 days prior to the beginning of the funding year
- Only for those who set up a separate bank account
- Only for those people who are willing to submit to an audit several years after the funds have been disbursed. If you fail the audit you will have to repay the expenses.
- Only for those who can hang on to all the original invoices and receipts and submit them after the funding year
- Only AFU funds may be deposited into the account and funds may only be used for eligible expenses. If you have 67 cents left in your account at the end of the funding year, you are not allowed to top up the funds by 33 cents so you can buy a #&*%@! pencil. Instead the funds will be deducted from next years funding because you didn’t use them!
What really has my blood boiling is that they now require parents to pay a professional accountant to complete an “Account Confirmation Form”. As if we are not financially stretched enough, we now have to hire an accountant at God knows how many hundreds of dollars per hour to do this paperwork. This is on top of providing the original payment invoices and receipts to the AFU!
One thing is for sure. It’s not about the kids when it comes to the AFU!