Section 8 in Andhra Pradesh Skill Development Fund Rules, 2012
8. Maintenance and Operation of Bank Account.
(1)The Management Committee shall open a savings Bank account with State Bank of India or State Bank of Hyderabad as may be approved by the Management Committee.(2)Saving Bank account thus opened in the name of the Secretary' of SDF shall be operated with joint signature as authorized by the Management Committee.(3)All the money received by the fund shall as soon as possible be deposited into the said savings bank account and shall not be utilized for any purpose, other than the purpose for which the fund is credited.(4)No payment shall be made out of the Fund unless the expenditure is covered by the sanctioned budget and authorized by the Management Committee.(5)Monthly bank reconciliation of the Skill Development fund account shall be done.(6)Maintenance of cash book and component wise ledgers.
