Pees and other amounts collected from students should not be kept with teachers or with the principal but should be deposited in the bank.
School finances can be meticulously maintained and properly checked if cash book is kept carefully and bank accounts are maintained regularly. (c) Contingencies Register:This register maintains records of all expenditure on equipment, repairs to buildings, rents for buildings, stationary books purchased for the library, equipments purchased for the laboratory- postage, petty expenses etc. For every item that is entered in the cash book, there should be a corresponding entry in the contingency register.
(d) Fee Collection Register:This register maintains a record of all details concerning fees paid by each student. Teachers or clerks collecting fees should always be very careful to give receipts to pupils and to get a receipt amount handed over to the principal if they do not deposit in the directly. There should be a pre-specified, fixed timing for collecting fees should not be collected during teaching hours. If fines are collected from students, they have to be carefully entered in this register.
Beside breakage charges collected from students should also be registered. Similarly, other registers maintaining other financial details to be kept by a school are as follows: (e) Register of Donations Received:(f) Register of Scholarships:(g) Dead Stock Register:(h) A Record of Past Years’ Budgets:These records are necessary at the time of planning for the school as well as inspection of the school.