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Compliance in the Use of Funds

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Suggested learning time: approximately 45 minutes

  • It is mandatory for IMCs to observe the Code of Aid for Aided Schools, ambits governing the use of funds (including Expanded Operating Expenses Block Grant and Teacher Relief Grant) and any other instructions as given by the Permanent Secretary for Education;
  • IMCs should ensure the handling of trading operations complies with all EDB procurement guidelines/ procedures; apply all the profits and net income for purposes directly benefiting the pupils of the school;
  • Instead of seeking PS(Ed)'s approval, IMCs may approve the collection of fines, charges and fees for specific purposes exceeding the ceilings under the blanket approval given by PS(Ed) if such collection is used for educational purposes and has the express consent of the majority of parents.

Questions

  1. Does your school have a sound financial planning and good budgeting in utilising funds?
  2. Has your school formulated clear guidelines on procurement procedures for the reference of the staff concerned?

Suggested Follow-up Activities

Please read Chapter 3 “Compliance and Flexibility of IMCs in the Use of Funds” of “Guide to Financial Management for Aided Schools Operated by Incorporated Management Committees”.

Activity: Tool for Reviewing the Usage of Funds

Quiz: Compliance with the Use of Funds
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Additional Reference Materials

  1. “Expanded Operating Expenses Block Grant User Guide for Aided Schools which have established an Incorporated Management Committee (IMC)"
  2. “Teacher Relief Grant (TRG) for Schools with an Incorporated Management Committee"
  3. Paragraph 6.2 “School revenue” in Chapter 6 “School Finance Matters” of the School Administration Guide
  4. “Procurement Procedures in Aided Schools - FAQs (June 2023)".CHI
  5. "Points to Note on Financial Management of Aided Schools”
  6. EDB circulars related to compliance with the use of funds:
  7. “Tips on Handling Government Subventions for Aided Schools”
  8. “Guidelines on Procurement Procedures in Aided Schools”

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