I am sharing today’s information regarding “How to Use NSB Funds in Punjab Schools”. So, the government allocates nonsalary budget NSB for utilization in schools of Punjab.
However, the Punjab government allocates four quarters per annum. Therefore, all school heads use these funds on a priority basis. The government has announced amendments to financial rules recently.
How To Use NSB Funds in Punjab Schools
In addition, PMIU-PESRP sends these funds firstly to the district authorities of 36 districts in Punjab. So, the higher authorities then disburse funds to primary, Elementary, High, and higher secondary school bank accounts.
In other words, the salary budget is a big initiative for schools in the province. Similarly, there were strict rules and head teachers tried to pass chequebills from account offices. But there were chances of corruption. Therefore, the government now sends money directly to the NSB bank account of the school.
After that, the school council committee approves that to draw how many amounts for work. Therefore, head teachers pay through cheques or petty cash. He enters this information in the school information system SIS app.
At last, the head teacher may use up to 99999 without quotation now. However, the government has revised the previous amount which was 49999.
Quotation Based Amounts:
The amount from 100000 to 199999 is quotation based. For quotation, the head teacher will write a letter to different companies. After that, he will make a comparison and choose one of the lowest rates. Then he will write again to that chosen company manager for purchase.
He will ask for an inspection from the inspection committee in school after purchase.
Read More: SIS App NSB Accounts & IBAN of All Punjab Schools
.png)
