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The Pamphlet Collection of Sir Robert Stout: Volume 83

(7.) Board Fund

(7.) Board Fund.

Board to make annual estimate of moneys required for current year.

39. At the first ordinary meeting of the Board in each year, the Board shall make an estimate of the amount of money which it has reason to believe will be derived from the following sources:— page 15
(1.)From moneys payable by Government in respect of the average daily attendance of children as hereinbefore provided:
(2.)From moneys in any manner whatever received or to be received by the Board.

The Board shall regulate its expenditure upon the basis of the estimate so made, and a copy thereof shall be transmitted to the Minister.

40. Whenever the Board of any district shall be in receipt of

Provision for deduction from grants in aid in certain cases.

rents or other profits derived from lands or other property vested in the School Commissioners under "The Education Reserves Act, 1877," an account shall be taken at such periods as the Minister may direct, showing the amount of such rents or other profits; and, in computing the proportionate share which such Board would, under the provisions of this Act, be entitled to receive from the Government, allowance shall be made for such rents and profits, and such share shall be paid subject to a deduction based upon the net amount of such rents or other profits.

No such deduction shall be made in respect of moneys received from such special endowments as are mentioned in section fifty-two of this Act.

41. All moneys received by or belonging to the Board shall be

Funds of Boards.

paid into such bank as the Board from time to time appoints, to an account to be called "The Education Board Account," and no moneys shall be drawn out of the bank except by authority of the Board, and shall be paid by cheque, signed by the Treasurer and by such one or more members of the Board as the Board may from time to time authorize to sign cheques.
42. The Board Fund shall consist of the following moneys,

Board Fund, of what to consist.

that is to say,—
(1.)Grants from the Consolidated Fund.
(2.)Rents and profits derived from property or endowments vested in the Board.
(3.)Special endowments or grants for particular purposes.
(4.)Special fees for higher education.
(5.)Any other moneys which the Boaad may receive from donations, subscriptions, or otherwise.
43. Every Board shall, out of the Board Fund, make such

Disposal of fund.

provision from time to time as to it shall seem fit for the following, namely,—
(1.)For the payment of salaries and other expenses connected with the carrying on of the business of such Board;page 16
(2.)For the expense of purchasing or renting school sites, playgrounds, and buildings, or for erecting, fitting up, and improving school buildings;
(3.)For the payment of teachers' salaries;
(4.)For the maintenance and education of pupil-teachers;
(5.)For grants to Committees for general educational purposes;
(6.)For subsidizing school libraries;
(7.)And generally for the payment of all expenses necessarily incurred by such Board or any Committee under their supervision in the carrying out of any of the provisions of this Act :

Provided always that no Board shall be liable for the payment of any expenditure incurred by any Committee or teacher, unless such expenditure shall have been previously sanctioned by such Board.

Accounts to be kept.

44. The Board shall keep full and true accounts, in which shall be entered every sum received into and paid out of the Board Fund in the order of date of each such receipt and payment, including all moneys received from rents or profits derived from land or other property vested in the Board, or under its control or management.

It may be provided by regulations that Boards shall keep general and special accounts in such convenient form as may be thought fit.

Accounts to be audited.

All such accounts shall be rendered annually, or at such periods as may be prescribed by regulations, and all such accounts shall be audited by an Auditor to be appointed by the Governor.

Copies of all such accounts, when audited, shall be furnished to the Minister.