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FINANCIAL MANAGEMENT (SOUTH AFRICAN SCHOOLS ACT 84 OF 1996. To provide for…
FINANCIAL MANAGEMENT
SOUTH AFRICAN SCHOOLS ACT 84 OF 1996. To provide for a uniform system for the organisation, governance and funding of school
Section 34 of SASA 84 of 1996.The State must fund schools from public revenue on equitable basis in order to ensure the proper exercise of the rights of learners to education and redress of the past inequalities in education provision
Section 29(1) of Constitution of RSA act 108 of 1996. Everyone has the right to basic education, including adult education
Section 59 of SASA 84 of 1996. Schools must provide information to Provincial Education Departments so that resource allocation decision made on time
Section 34 of SASA . Provincial Education Departments must annually provide public schools with sufficient information including allocation of funds per learner
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Public Finance Management Act 1 of 1999
The object of this Act is to secure transparency, accountability, and sound management of the revenue, expenditure, assets and
liabilities of the institutions to which this Act applies.
Section 36(1) of PFMA . Accounting officer
Every department and every constitutional institution must have an accounting officer.(Principal)
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Circular 13 of 2000 (Directives regarding the administering of a School Fund in terms of section 37(1) of the SASA 84 of 1996)
2.1.3 of Circular 13 of 2000. A Finance Committee shall be established by the school governing body and shall at least consist of the Chairperson of the school governing body, the Principal and a Treasurer
2.3.2 of Circular 13/2000 A School Governing Body shall open a current banking account in the name of the school at the nearest
registered commercial bank for all moneys under its control including trust funds.
2.2.1 of Circular 13 of 2000. A school fund shall consist of moneys collected and received by the School Governing Body by means of :
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2.1.4 of circular 13/2000 The principal of a school, in consultation with the
governing body. shall appoint a member of the
administrative staff as bookkeeper for the school fund books.(Finance Officer)
2.1.5.1 of circular 13/2000. Finance Officer keeps records of funds received and spent; and of its assets, liabilities and financial transactions;
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