CO129-603-1 Education Department- revised grant code 5-2-1947 - 14-4-1948 — Page 66

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Page Five

(ii) In respect of premises owned by the school authorities the expenditure

may include a sum not less than 1% and not exceeding 3 of the capital

value, subject to the approval of the Director of Education after con-

sultation with the Director of Public Works and the Financial Secretary,

the said sum to be paid into a special re-building or depreciation fund.

The investment of this fund shall be subject to the approval of Govern-

ment's financial officers, and it shall not be drawn upon for any purpose

other than the building of school premises approved by the Director of

Education. A school on ceasing to draw grant under this Code shall be

permitted to retain its rc-building or depreciation fund, provided that

the fund shall not be drawn upon for any purpose other than the building

of school premises to be used for educational purposes approved by the

Director of Education.

OTHER

25.

26.

CHARGES.

The expenditure on other charges shall be estimated at not less

than the following rates per annum per pupil of the average attendance:

(i) For classes 5 and below in English Schools and for primary

and lower middle classes in Higher Grade Vernacular Schools, $6.-

(ii) For Classes 4, 3, 2 and 1 in English schools and upper middle

school classes in Higher Grade Vernacular Schools, $10.-

The ordinary tuition school fees to be charged in each school

shall be determined by the school managers, but they may not be less than

those charged for similar classes in Government schools. For the purpose

of assessing the grant, not more than 10% of the estimated average attendance

shall be allowed on account of remission of fees.

ACCOUNT S.

27.

28.

Each school manager shall render annually to the Director a duly

audited statement of income and expenditure in the form approved by Government's

Financial Officers.

The Annual Statement shall include only the income and expenditure

in respect of the activities towards which a grant is made by Government.

At the end of the second year of each triennium consideration

shall be given to the recurrent grant for the next triennium, actual expendi-