1.
Deposit of Fees in Personal
Deposit Account :-
All fees
collected from students under the following items shall be deposited in a
Personal Deposit Account/Savings Accounts in the name of the Principal in a
Treasury nearest to the College.
1.
Athletic/Games
Fees
2.
Stationery
Fees
3.
Magazine
Fees
4.
Visual
Education Fees
5.
Association
Fees
6.
Caution
money collected from students
7.
Any
other collection except Tuition fee permitted by the Government.
2.
Receipts to be entered in
the office cash book:-
All items of
receipts shall be brought to the office cashbook in the first instance and
remitted to the credit of Personal Deposit Account at the earliest date
possible. All items of disbursements
shall also be brought to the office cashbook.
3.
Maintenance of a Register:-
A Register shall
be maintained in every College for watching the fund under each of the above
items. The Register shall show the
receipts, expenditure and balance available under each item separately and it
shall be maintained correctly and kept up to date. The balance available under each item shall be totalled and
reconciliation effected monthly with the balance outstanding in the Deposit
Account.
4.
Maintenance of a Petty Cash
Book:-
(1)
A
separate Petty Cash Book shall be maintained for noting the withdrawals and
disbursements from Personal Deposit Account under each of the items mentioned
above. The Principal shall see that
amounts far in excess of actual requirements are not drawn and kept
undisbursed. The Petty Cash Book shall
be closed daily and the accuracy of the cash balance checked by the Head of the
Institution.
(2)
The
collection under any one of the items mentioned in clause (1) shall not be
diverted and utilised for any other item in the normal course.
(3)
Vouchers
shall be obtained and filed properly and shall be made available for
audit. The collections shall be duly
remitted and cash in excess of Rs.50/- (Rupees fifty only) shall not be kept
for more than a week. In cases where it
is difficult to obtain vouchers for petty amounts actually spent on any item, a
certificate of payment in the spending officer’s own handwriting, countersigned
by the Principal, shall be filed in lieu of the voucher.
(4)
At
the close of every financial year, the accounts shall be checked by Gazetted
members of staff in the case of Government Colleges and by such other member of
the staff in respect of a Private College nominated by the Principal. A statement showing the balance available
under each item as on 31st March shall be sent by the Principal to
the Director of Collegiate Education, before the 15th day of April
every year. The annual certificates of
acceptance of balance in the account on the 31st March of each year
shall be forwarded through the concerned Treasury Officer duly countersigned by
him.
5. Certain
rules to be followed for purchases: -
As far as possible, stores purchase rules shall be adhered to for making purchase of stores such as athletic goods, uniforms to players, uniforms to attendant at games and for expenses like printing charges, purchase of stationery, etc. The Principal may relax this provision in very special circumstances for reasons to be recorded by him in writing at the time of incurring the expenditure.
6. Limit for social functions: -
Expenditure on
social functions such as ‘At-homes’ to visiting teams, V.I.Ps., etc. shall
ordinarily be limited to Rs.1.50 per head on each occasion. The annual limit of expenditure on this
account shall not exceed Rs.100.
7. Restrictions on expenditure: -
All
items of recurring expenditure such as salary of staff, allowances to
employees, etc. shall be incurred only with the prior sanction of the Director
of Collegiate Education. All items of
non-recurring expenditure shall be incurred only alter obtaining specific
sanction of the Principal.
8. Procedure in respect of amounts unspent:
-
All
amounts remaining unspent on 31st May shall be added to the next
year’s collection towards the fund.
Expenditure out of the accumulated savings to the credit of the fund
shall be incurred only with the previous sanction of the Director of Collegiate
Education. Where large sums tend to
accumulate under the fund, proposals for their utilisation shall be submitted
to the Director of Collegiate Education.
9. Disposal
of unserviceable articles: -
Unserviceable
articles may either be sold in auction or destroyed and written off. All records relating to auction and write
off shall be produced for inspection.
The sale proceeds shall be deposited into the Personal Deposit Account
and credited to the special fee account maintained by the Principal.