This handbook sets out the standards and guidelines for school system accounting. It contains key documents setting out the financial relationship and financial management requirements between the Authority and its schools.
This handbook meticulously details the Standard Operating Procedures (SOPs) for managing accounts and finances within the school system. It comprises a comprehensive compilation of guidelines, protocols, and processes that govern financial transactions and fiscal governance between the School Authority and individual educational institutions. This SOP handbook serves as an invaluable resource, offering a systematic approach to maintaining financial integrity and transparency across the entire school network. Listed below the content of SOP:
- Objectives
- Finance & Accounts Department
- Key Controls Within Accounts & Finance Department
- Fee Collection
- Fee default
- Payment of Bills
- Receipt of Bills
- Entry of Bill in the Books of Accounts
- Preparation of Approval note for payment
- Issue of Cheques
- Dispatch of Cheque
- Cash Payments
- Payroll
- Staff Advances and Loans
- Job Responsibilities of Finance & Accounts Department
- Responsibilities of Accountant
- Books of Accounts
- Statutory Compliances – TDS, Service Tax etc
- Bank payments
- Compliance of audit queries
- Cash payments and journal vouchers
- Financial statements
- Tours and travel statements
- Responsibilities of accounts officer
- Book keeping
- Handling of school income
- Operating bank accounts and signing cheques
- Committees .
- School Finance and Audit Committee
- School Purchase and Tender Committee
- Budgeting
- Principles of budgeting
- Programmed budgeting
- Budgeting process
- Appendices
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