Financial Management

Compliance in the Use of Funds  (suggested learning time: approximately 45 minutes)

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?

1. 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”.
2. Activity: Tool for Reviewing the Usage of Funds
3. Quiz: Compliance with the Use of Funds
   Start here

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:
   - Education Bureau Circular No. 10/2016 - Trading Operations in Schools
   - Education Bureau Circular No. 4/2013 - Procurement Procedures in Aided Schools
   - Education Bureau Circular No. 14/2012 - Collection of Fines, Charges and Fees for Specific Purposes, and Use of the Subscription (Tong Fai) / General Funds / Capital Reserve Fund Account in Aided and Caput Schools
7. “Tips on Handling Government Subventions for Aided Schools”
8. “Guidelines on Procurement Procedures in Aided Schools”

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