Northern Minerals has been flooded with shareholder applications for
its recent share purchase plan, raising $ 11.7 million, more than double the original limit set for the SPP..
(hh) If the unencumbered amount of cumulative surplus revenue from tuition held by a charter school at the end of a fiscal year, less (i) the amount of the fourth quarter tuition payment, (ii) the amount held in reserve for the
purchase or renovation of an academic facility pursuant to a capital
plan, and (iii) any reserve funds held as security for bank loans, exceeds 20 per cent of its operating budget and its budgeted capital costs for the succeeding fiscal year as is reported in a capital
plan to be submitted in the school's most
recent annual report, the amount in excess of said 20 per cent shall be returned by the charter school to the sending district or districts and the state in proportion to their
share of tuition paid during the fiscal year.