This is income generated within the school from various activities or ventures such as locker rental, Canteen or Tuck shop receipts, and income from games and books. It also includes voluntary contributions from parents of students in the school which is an essential source of income for many schools.
This type of income is collected by several different personnel in the school and therefore requires strong control mechanisms to be put in place. The controls should ensure that all income is collected from the correct person, at the right time, using the correct procedures, appropriate stationery and ensure that pre-numbered receipts are issued to everyone.
Further Guidance
School Generated Income Procedures and Controls
Internal Financial Controls Manual – (Section 1.4)
Sample Forms & Templates
Cash Receipt Book Template (word version)