Section 133 in The Goa, Daman and Diu School Education Rules, 1986
133. School fund how to be maintained.
(1)Every school fund shall be kept deposited in a nationalised bank or a scheduled bank or any post office in the name of the school.(2)Such part of the school fund as may be approved by the Administrator, or any officer authorised by him in this behalf, may be kept in the form of Government securities.(3)The Administrator may allow such part of the School Fund as he may specify in the case of each school (depending upon the size and needs of the school) to be kept as cash in hand.(4)Every Recognised Unaided School Fund shall be kept deposited in a nationalised bank or a scheduled bank or in a post office in the name of the school and such part of the said Fund as may be specified by the Administrator or any officer authorised by him in this behalf shall be kept in the form of Government securities and as cash in hand respectively:Provided that in the case of an unaided minority school the proportion of such Fund which may be kept in the form of Government securities or as cash in hand shall be determined by the managing committee of such school.
