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Fee Collection through Banks

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Presentation on theme: "Fee Collection through Banks"— Presentation transcript:

1 Fee Collection through Banks
Rajesh Yadav, ICAS CA, CS & PGPPM from IIM Bangalore Deputy Commissioner (Finance)

2 Let us start a new phase:-
The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and re- learn.- Alvin Toffler Challenges make life interesting and overcoming them makes life meaningful With faith, discipline and selfless devotion to duty, there is nothing worthwhile that you cannot achieve.

3 Objective to introduce new system:
Productive time of teaching/ non teaching staff may not be wasted in collection of fee. Effective utilization of spare funds. Effective monitoring for release of funds. Reconciliation and accounting issue to be resolved. Availability of Academic information on real time basis. Ease in deposit of fee Students more techsavy.

4 Process followed for selection of bank
EOI floated on 30th January, 14. Eight public sector banks participated. U.B.I. emerged as L-1. U.B.I. conveyed its acceptance in May,14. Pilot project to collect fee of students for quarter Oct-Dec, 14 launched from five KV of Delhi Region. In second phase, five school from every region to be covered.

5 Mandate of Union Bank of India
Development of complete IT solution. Server and other hardware(POS machine). Fee to be collected on line as well as off line. Timely transfer of funds to school, RO & Hqr. Investment of spare funds. Generation of MIS at school, RO and Hqr. Suitable training/guidance to KVS staff. Brochure/Phamphalat for guidance of parents

6 Mechanism of collection of fee
The complete information of all students of a school to be uploaded by respective school on the UBI Portal latest by 25th of preceding month for which quarterly fee to be collected. Class wise copy of fee challan generated through UBI web portal are required to be printed by respective class teacher before 28th of preceding month. Copy of challan to be distributed by respective class teacher to student before end of preceding month.

7 Mode of Deposit of fee Mode of Deposit:-Online as well as off line.
The fee can be deposited by the student at any 3750 bank branch of U.B.I. Fee can be deposited by the student through Internet banking. Debit card, credit card, mobile banking, and Internet banking are options made available by bank at present. Cheque has been debarred as mode of payment due to reconciliation issues.

8 Whether any fee payable towards collection of fee
No additional charge/fee payable by student except credit card. No additional charge/fee payable by KVS

9 Opening of bank account
Every school as well as R.O. has to open two account with UBI(SF and VVN). The bank will invest spare funds in term deposit and prevailing interest as mentioned on UBI site as applicable from time to time will be paid by the bank for the period under which fund remain with bank. All bank accounts will be interlinked. RO will have the access right for school bank accounts falling in their jurisdiction and Hqrs will have the access right for school as well RO account, it ill facilitate timely release of money as per requirement of KV.

10 Procedural Ascepts-Unique Identification no to students
Generated by the system Unique to each student. Same ID cannot be generated for two students. Remain valid till student studies in same KV. Defunct no to be deleted subsequent to issue of TC. New no. to be allotted by new KV/shift. System has check and balance. UID crucial for collection of fee.

11 Feeding of data into system
Only authentic student data to be feed. Incorrect data can be altered at first stage by respective class teacher before 1st verification. Authenticity of data is crucial for MIS. First time fee challan to be given to students in advance to accuracy of particulars. Data to be utilized for different purposes including reply to Parliament question. The complete data needs to be cross checked before undertaking 1st verification . Each class teacher to sign data sheet and to be kept in record by Principal.

12 Fee structure Fee will be computed by system
Fee structure detail available at KVS Hqr site. Exemption under different category is given under Fee structure. Sibling exemption not mentioned under Fee structure but same is admissible in terms of Education Code. Applicability of Computer Fund and CS/I.P fee- clarification dated may be seen under ‘Circular’ head under sub head ‘Accounts’. Admission and Re admission fee will not be collected by system Lib fine, Other (S.F) & VVN are optional columns. In case of fee reimbursement is admissible to parents then complete fee is applicable.

13 Collection of fee Fee to be collected by bank from 1-15th of fee collection month in terms of Education Code. Only quarterly fee will be collected. No advance/monthly fee to be collected. Fee will be collected by bank during the month of April, July, October and January. Fee will be collected through five modes. Foot notes on different methods are given in Fee challan. Late payment fine will be applicable from 16th onwards(Rs 10/5 as the case may be). Fee Receipt will be given on E mail.

14 MIS Teacher Domain. Reporting Date- 17th of fee collection month and 2nd of next month Fee Receipt, Fee not receipt report & fee exemption report. School Domain:- Admission category, Category, RTE, SG,PH, Boy/Girl, Minority, quarterly fee collection report, annual fee collection report, fee exemption report, VVN and Computer fund collection report. Region level report: No of KV, shift wise detail, type of kv, Annual/ quarterly fee collection, VVN collection and bifurcation, computer fund, transfer to VVN share to RO, Hqr etc.

15 Role of Teacher in new system
Feeding of correct data into system. Feeding of data is only a one time affair. Verification of data till 1st stage. Generation of fee challan & distribution to students. Convincing parents and students about new system. Deleting of unwarranted records from time to time. New records to be entered at the time of admission. Previous data will be carried forward suo moto by system. Data to be changed only if some facts of student go change i.e Section, Exemption etc. Password to be guarded.

16 Convincing the parents about new system
Teacher productive time will be saved and they will be able to concentrate on studies. No addition fee/charge payable by students/ KVS. Same fee as applicable earlier was payable. Risk prevailing in collection of fee will be eliminated. Funds will generate interest Fee can be deposited through five modes. Fee can be deposited till 15th of fee collection month. Fee can be deposited in any of 3800 branches of UBI. Fee challan carry complete details for online as well offline.

17 Role of Principal Monitoring feeding of data by class teacher from time to time. 2nd verification of data to be done at level of Principal. Allotment and Re allotment of password to class teachers. Undertaking cross verification of sample student data and collection of data sheet class wise. Completing on line feeding latest by 15th December,14. 1st verification to be over by 18th December and 2nd verification to be over by 21st December,14. Distribution of fee challan by 22nd December. Correction if any in fee challan to be over by 25th December. Issuance of circular regarding switch over to new system to Parents from time to time.

18 Role of Nodal officer Coordinate with five Kvs selected for second phase. A training program under AC may be arranged for all class teachers in each KV. Monitoring KV wise feeding of data from time to time. Resolve issue at school level. Technical aspects to be referred to UBI Bombay. Fee structure/clarification if any required from Hqrs may please be forward to Dc Fin, KVS Hqr . To attend PTM and convince the parents about new system.

19 Challenges for KVS Allotment of Unique Identification number to each student. Compilation of data of students by respective school. Filling up correct information of student in prescribed format. Uploading of information on UBI portal. Printing of fee challan and distribution to students. Downloading MIS from time to time. Convincing parents for adoption of new system. Timely updation of data of students.

20 Advise/ Cooperation Your value able suggestion and Co- operation is solicited to make it a robust system in the overall interest of organization.

21 Thanks

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