Section 149(4) in The Delhi School Education Rules, 1973
(4)[ The amount standing to the credit of the pupil's fund shall be at the disposal of the head of the school and shall be spent in the interest of the students for various physical and co-curricular activities of the school or for purposes and in the manner specified below :-(a)the maximum accumulation in the pupil's fund shall not exceed one year's collections or rupees twenty thousands whichever is more. If unspent balance exceeds one year's collection or rupees twenty thousands whichever is more charging of further subscription shall be discontinued and shall be restarted when the balance is below rupees five thousands.(b)Prior sanction for purchases exceeding rupees five thousands out of the Pupil's Funds shall be obtained from the Director.(c)The Pupil's Fund account shall be maintained and operated by the head of the school. The balance shall be deposited with a branch of the State bank of India or in a post office Saving Bank Account or with a Co-operative Bank approved by the Registrar, Cooperative Societies, Delhi. Only in absolutely unavoidable circumstances the balance may be retained in hand.(d)The Pupil's Fund Accounts shall be got audited like other accounts of the school and the audit fees shall be paid out of the Pupil's Fund.(e)The head of the school may incur expenditure out of the Pupil's Fund broadly in accordance with G.F.R. for the welfare of the students on activities like sports, co-curricular and cultural activities, physical health of students, examinations and stationery, hobbies, reading room, scouting, Junior Red Cross, etc.]
