A notification has been issued on 21 September 2021 in connection with the Allocation of NSB Funds for Primary, Elementary, High and HigherSecondary Schools for 1st Quarter FY 2021-22 by PMIU. Further detail of said notification in same is as under;
ALLOCATION OF NSB FUND 1st QUARTER FOR PUBLIC SCHOOLS
Summary of Notification
Finance Department vides its letter No. SO (S) 8-16/2020 (Vol-II) dated 17th September 2021 has sanctioned to place NSB funds amounting to Rs. 3.5555 billion for 1st quarter of FY 2021-22 in the Assan Assignment Account (LC) of Chief Executive Officer, District Education Authority (DEA) in all 36 districts of Punjab for further disbursement to primary, elementary, high, and higher secondary schools. A list of School-Specific NSB entitlements for Primary, Elementary, High, and Higher Secondary schools in your respective districts has already been emailed.
- For further allocation and transfer of funds by districts to schools and execution of NSB funds by schools following guidelines are issued:
- District Education Authorities are being provided with the school-specific need based NSB funds over and above their PFC share, as a conditional grant, which cannot be used for any other purpose.
- The CEOs of DEAs are required to transfer the NSB funds immediately to the respective bank accounts of school councils as per their entitlements.
- Chief Executive Officers, District Education Authorities are required to ensure that every School Council already has exclusive bank account for NSB funds. Head teacher and Co-chairperson of the school council will be the co-signatories of the NSB bank account. The school council NSB account can only be opened in the name of school.