Financial controls
1. Detailed records must be maintained on the use of the grant. A summary list of the eligible students assisted, together with the amount of assistance granted in each case and their category of need under the scheme should be kept for each school year. Receipts signed and dated by the parents/guardians or other equivalent documentation should be retained as evidence of disbursements.
2. The book grant should be lodged in the school’s main bank account.
3. The book grant disbursements and receipts should be shown as separate entries in accounts.
4. The school must operate normal internal controls and record keeping applicable to receipts and payments.
5. A reconciliation of each school year’s allocation showing receipts and disbursements supported by appropriate documentation should be performed. The reconciliation should be available to the Department upon request.
6. The book grant is ring-fenced income and therefore cannot be used for any other purpose. Examples of what the grant cannot be spent on include mock fees, exam papers, stationery and library books.
The unspent portion of the book grant must be deferred in the annual school accounts.