Section 5: Maintenance of Accounts

5. Maintenance of Accounts: The accounts of Non-Govt. funds shall be kept in accordance with the instructions, incorporated in Article 49 and 50 of G.F.& A.R. (Part-I) as applicable for Non-Government Funds and rules vide Appendix "A" annexed with these Rules as framed in connection with the operation and maintenance of such funds. (a) The Non Govt. Fund Account in respect of each Polytechnic College shall be operated by its Principal or any other officer on his/her behalf whom the powers may be so delegated. (b) Money received shall be deposited in P.D. Account with the settlement in the Treasury concerned. (c) For dealing with the Transactions relating to the Non Govt Fund there shall be a separate Govt. Cashier who shall furnish security for Rs. 7500/- in any of the forms prescribed under Article 313 of the GF & AR. (Part-I) (d) The Cashier shall maintain Cash Book, Ledgers and such other set of account books or record relating to the Non- Govt. Fund as may be considered necessary by the Principal. (e) All cash collected shall be credited in to the Bank on the day of collection as far as possible or latest by the following working day. The Cashier shall not keep in his custody amount (including cheques, drafts, postal orders etc.) more than Rs. ten thousand or an amount for which security has been furnished.