Act of School Fundraising to Support the Education of Financially Disadvantaged Students Article 6

Schools with approval for fundraising under the preceding article shall open an education savings account within 10 days since the approved date at a public financial institution (for public schools) with treasury agency window or at the post office or other financial institution (for private schools). School shall submit particulars related to the establishment of the account to the competent authority for reference within 7 days since the account opened date.Education savings account names shall include the full title of the schools and the words education savings account. The account name of designated education savings accounts for national public schools shall be in accordance with the regulations for establishing the names of treasury authority-specified accounts.School education savings accounts shall be specified accounts, and the revenue and expenditures shall be recorded. The accounting and cashier of the account shall be implemented under individual school’s accounting and cashier rules.