How to Maintain an NSB record is the basic question of every Head Teacher. Following are the main registers and files. Karwai Ijalas register, cash book, stock register, vouchers file, and Bank statements.
Non-salary budget in schools:
The purpose of NSB is to improve quality education and outcomes in all its schools. These adequate funds are provided to schools. Which enables them to better plan, manage and deliver education?
Where to spend the NSB budget?
Every School receives four annual NSB Quarters. This budget can be spent on school whitewash, furniture repair, whitewashing, stationery, washroom cleaning, plantation, and the purchase of a water cooler.
Daily expenses in schools such as general school maintenance, functioning, support of student learning activities, office supplies, sports equipment, electricity, cleaning, educational materials, repair of furniture, reduction of dropouts in schools, maintaining student enrollment, cleaning of playgrounds
How to open a school NSB bank account
Specific school council NSB accounts will be opened in the name of each school.
The headmaster of the school and the co-chairperson of the school council will be the joint signatory authority of this account.
The school headmaster will be responsible for keeping a record of all school expenses and conducting all audit matters efficiently.
Funds from FTF and all other sources cannot be credited to the NSB account
How To Maintain NSB Record
- Up to 50,000 purchases can be made without any quotation
- While taking three quotations from different firms for 50 to one lakh.
- And make a comparative statement
- Send a supply order to the lowest-rated firm
- Follow the bidding procedure for purchases over one lakh
- At the beginning of the financial year, the action plan is to be completed throughout the year. Make a priority list.
- School committee members will be elected by public vote every two years.
- Of course, former members are elected
NSB can be spent on the following items:
The school will prepare a priority list/school-based action plans for its needs at the beginning of the financial year. The school can purchase only the following item.
NSB should be spent on such initiatives in school. Improving academic and teaching performance, increasing student retention and teacher attendance.
Cleaning of building and open spaces, cleaning of washrooms, renovation of teaching rooms, maintenance of electrical connection wiring, payment of bills, clean drinking water, repair of broken parts of walls, student retention, improvement of attendance of teachers, repair of furniture. And the purchase of furniture, school building whitewash, the appointment of temporary part-time teachers or caregivers, purchase of blackboard, whiteboard, purchase of stationery, Buying sanitary ware, water tanks, first aid kits, charts for student classrooms, buying science lab equipment, buying plantation plants, buying cleaning brooms, etc.
The school will only spend the amount on construction work when all the important requirements identified have been met.
If you have to spend on such items. Which are not listed in this list. In this case, prior permission from the CEO or EDO is required
The tax rate on purchases from NSB
Purchase of goods by registered company 4% Income Tax
Registered persons will have to pay 4.5% income tax.
If the purchase amount is less than 25000 then income tax will not be deducted.
GST: General sales tax: Registered Supplier: 17%
Services tax: Registered company 8%
Registered persons will have to pay 10% tax.
NSB record registers and records should be kept properly
Cashbook, Inventory register, Budget register
How to maintain NSB cashbook Record/Register:
The school head will register all the transactions by placing the bank statement in front of it. Cashbook should have the check number, date of issue, in whose name the check was issued, CNIC details
Is the school principal allowed to keep cash in hand?
Yes, it is possible to have a limited amount of money in hand for daily school expenses. However, this amount should not exceed five thousand. Use more than ten thousand cross-checks in case of any payment.