Fee Collection through Bank

Rajesh YadavIndian Cost Accounts Service

CA, CS & PGPPM from IIM BangaloreDeputy Commissioner (Finance)

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.

Let us start a new phase:-

Total no of KVs (Delhi Region)

5

Total student in five KVs 16098 100%

Student exempted from fee on account of RTE/SG

932 5.8%

Fee due from student 15166 94.2%

Deposit of fee –Online (including Mobile banking)

2255 14.9%

Deposit of fee-Off line 12721 83.9%

Total students deposited fee online/offline

14976 98.8%

Status of implementation of Pilot Project (First Phase)

Total no of KVs (Delhi Region)

5

Total student in five KVs 16098 100%

Student exempted from fee on account of RTE/SG

932 5.8%

Fee due from student 15166 94.2%

Deposit of fee –Online (including Mobile banking)

2255 14.9%

Deposit of fee-Off line 12721 83.9%

Total students deposited fee online/offline(including exempted)

14976 98.8%

In second phase:- Five KVs each Region will collect fee for the

quarter January- March, 2015. In third phase:- Approx 800 KVs of all Regions (within

proximity of UBI Branches) will collect fee for the quarter April- June,2015.

In fourth phase:- It is proposed to cover all KVs for the quarter

July-Sep,2015 subject to feasibility of banking facility.

Implementation of 2nd, 3rd and 4th phase

The matter of online and off line fee collection through Union bank of India and transfer of surplus into deposit by opening of Saving Flexi account with Union Bank of India has been approved by the Finance Committee in its meeting held on 28th November, 2014.

The above proposal of KVS was approved by Board of Governors in its meeting held on 10th December, 2014.

Approval of FC & BOG

"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.

Paradigm shift

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/accounting issue to resolved.

Availability of Academic information on real

time basis. Ease in deposit of fee to Parents. Students more tech savvy.

EOI floated on 30th January, 14. Eight public sector banks

participated(SBI,PNB,Canara,Union, BOB,Allahabad,Vijaya and BOI). U.B.I. and S.B.I. technically qualified. U.B.I. emerged as L-1 in financial bid. U.B.I. conveyed its acceptance in May,14. Pilot project launched to collect fee from

five KV of Delhi Region for quarter Oct-Dec, 14.

Process followed for selection of bank.

No single paisa investment on part of KVS. No recurring charges payable by KVS. Development of complete IT solution by UBI. Server and hardware by UBI(POS). Bills desk and SMS charges borne by UBI. No fee collection charges (except credit card). Interlinking of bank account facilitate position

of funds and transfer of funds. Spare funds to generate interest. Suitable training/guidance to KVS staff.

Why Flexi saving account to be opened with Union Bank of India?

A 15 digit UID to each student. UID generated by the system Same UID cannot be generated. UID remain valid till student remain in same

KV/shift. UID to be deleted subsequent to issue of TC. New UID to be allotted by new KV/shift. System has check and balance. UID crucial for collection of fee

ProceduralAscepts-Unique Identification no(UID) to students

Authentic student data to be fed online. Authenticity of data is crucial for MIS. Data to be utilized for different purposes

including reply to Parliament question. Incorrect data can be altered at first/second

stage. The complete data needs to be cross checked

by class teacher before 1st verification . Each class teacher to sign data sheet and

same to be kept in record by Principal.

Feeding of online student data

Fee will be computed by system Fee structure detail available under ‘Academic” on KVS

Hqr website. Exemption is given under Fee structure. Sibling exemption not mentioned under Fee structure

but same is admissible in terms of Education/Accounts Code.

Applicability of Computer Fund and CS/I.P fee- clarification dated 28.8.2014 may be seen under ‘Circular’ head under sub head ‘Accounts’.

Lib fine, Other (S.F) & VVN are optional columns. In case of fee reimbursement is admissible

to parents then complete fee is applicable.

Fee structure & related issue

The complete information of all students of a school to be uploaded by respective school on the UBI Portal latest by 30th of preceding month for which quarterly fee to be collected.

Class wise copy of fee challan generated through UBI web portal to be printed by respective class teacher and to be distributed to student.

After establishing of system, student will be asked to take out print directly from UBI portal.

A message will be sent on the mobile no. of student/parent about fee due for the next qtr.

Mechanism of collection of fee

Fee to be collected by bank from 1-15th of fee collection month in terms of Education Code without fine.

Late payment fine will be applicable from 16th onwards(Rs 10/5 as the case may be).

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. Foot notes on fee challan facilitates different mode

of fee payment. Fee Receipt will be given on UBI Portal/E mail.

Collection of fee

Mode of Deposit:-Online as well as off line.1. The fee can be deposited offline by the student/Parent at any 4000 (approx) bank branch of Union Bank of India.

Fee can be deposited online by the student through following modes:-2 Any bank Internet banking,3 Any bank Debit card,4 Any Credit card,5 Any bank’s mobile banking.

Cheque has been debarred as mode of payment due to reconciliation issues.

Mode of Deposit of fee

No additional charge/fee payable by student except credit card@1.5%.

No additional charge/fee payable by KVS.

Whether any fee payable towards collection of fee

Teacher Domain. Student Detail, Fee Challan, Fee Receipt report, 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.

MIS

Feeding of correct data into system. Feeding of data is only a one time affair. Verification of data at 1st stage. Generation of fee challan & distribution to students. Convincing parents and students about new system. Deleting of unwarranted records on issuance of TC. Student data to be entered at the time of

admission. Previous data to be carried forward suo moto. Data to be changed only if some facts of student go

change i.e Section, Exemption etc. Password to be guarded.

Role of Teacher in new system

A training program for all class teachers. Monitoring feeding of data by class teacher from time to time. Allotment and Re allotment of password to class teachers. Deletion of unwarranted record. Undertaking cross verification of sample student data. Collection of data sheet class wise. 2nd verification of data. On line feeding of student data to be completed by 28th

February,15. 1st verification/2nd verification to be over by 10th March & by 15th

March. Distribution of fee challan on direction by KVS Hqr. Correction if any in fee challan to be over by 25th March. Issuance of circular and convincing parents regarding

switch over to new system to Parents from time to time.

Role of Principal

Coordinate with all Kendriya Vidyalayas. Allocation of Master trainer to KVs Monitoring KV wise feeding of data. Resolve issue at Kv level:- Technical aspects to be referred to UBI

Bombay & Fee structure/Policy clarification if any may please be forward to undersigned.

To attend PTM and convince the parents about new system.

Role of Nodal officer

Every school as well as R.O. has to open two Saving bank Flexi account with UBI.

Funds are at disposal of Principal/RO. Funds can be withdrawn on requirement. Spare funds to be converted into deposit. All bank accounts to be interlinked. RO will have access right for KV bank accounts. Hqrs will have the access right for school as

well RO account. Interlinking will facilitate timely release of

money as per requirement of KV.

Opening of bank account

Minimum balance of Rs 50000/- and it will generate rate of saving bank interest.

Surplus money above Rs 50000/-will be converted into deposits of Rs 50000/-.

Deposit will earn interest as in force from time to time as mentioned on UBI site and directly linked to period under which fund remain with bank.

No pre mature penalty. LIFO to be followed for with drawl of deposit Deposit will be for a period of one year. Deposit to be renewed automatically. No TDS to be deducted by bank being KVS co-op

society .

Features of Flexi saving account

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. Spare Funds will generate interest Fee can be deposited through five modes. Fee can be deposited till 15th of fee collection month

instead of 10th . Fee can be deposited in any of 4000 branches of UBI. Fee challan convey complete detail for online/offline. Fee challan/fee receipt can be retrieved from system.

Challenge of KVS-Convincing the parents about new system-Facts

Is it is a pace setting exercise? Are we ready to accept this challenge?

If yes, then never say “no” to any type of cooperation/

guidance/work sought by your colleague/parents and supervising official.

Now Ball is now in your Court.

Mission is achievable with your value able suggestion and Co-operation.

It will enable us to build a robust system in the overall interest of Organization.

KVS Mission 2015-Streamline FEE

Thanks