Pocket Money Collection and Distribution Procedure

1.              Past Practices of Pocket Money

a.            Collection of Pocket Money

(1)          Upon reporting back to the college, cadets submit cash money with HMs.

(2)          The amount is recorded in the Pocket Money Register, with the cadet's signature and released on required basis by respective HMs.

b.            Distribution of Pocket Money

(1)          On selected day of the week, cadet is called to the House Master's office to receive their pocket money.

(2)          Cadets sign the Pocket Money Register to acknowledge receipt of their pocket money.

c.            Responsibility

(1)          House Master: Ensures collection management and distribution of cadets’ money.

(2)          Cadets: Submit their cash and sign the Pocket Money Register.

(3)          The House Master also ensures that the procedure is followed and that any discrepancies are addressed promptly.

2.              Present Practices of Pocket Money and Cash Handling

a.            At present, some cadets carry ATM cards, which they use to withdraw cash on required basis. However, there is no fixed limit on the amount they can withdraw from ATM.

b.            Generally, cadets prefer to keep huge amounts and use at will, thereby exhibiting extravaganza and inequity among fellow cadets.

3.              Financial Disciplines

a.            Review the pocket money distribution system to ensure fairness, equity, and consistency among all students.

b.            Implement a standardized pocket money system, providing the same amount to every student, irrespective of their socio-economic background or personal circumstances.

c.            Infuse spirit of controlled expenditures, personal savings and responsive behavior in financial matters.

4.              Parental Involvement

a.            Engage parents in the pocket money system, ensuring they are aware of their child's spending habits.

b.            Provide regular updates to parents on their child's pocket money expenditure, encouraging them to discuss responsible spending habits.

c.            Restrict parents in extra payments and undue expenses by their children, while in boarding.

d.            Help and ensure / facilitate cadets to utilize available mess services and provisions and develop taste for variety of menu and healthy dietary habits.

5.              Revised Modalities for Pocket Money

a.            Rs. 1000/- per Week.

b.            To be included in quarterly fee as Rs. 12,000/- or Rs. 13,000/- depending on number of weeks in quarter.

c.            To be issued Rs. 1000/- Per Week to HM’s on Thursday for further distribution to cadets on Friday.

d.            Special requirement for cash, on long weekend or vacations to be issued through request slip of cadet duly signed by HM’s.

e.            No Pocket Money to be issued in next qtr in case of fee default for current quarter.

f.             Merchant Machine to be placed in college café for ATM holders’ cadets. (Café is not allowed to issue food for more than Rs. 500/- per day for ATM Card Holders Cadets)

g.            No Withdrawal of cash from College ATM by cadets as strict compliance. ATM timings to be planned and ensured by DDF and DDA.

h.            ATM Machine should be locked from 2 Pm to 6 Pm to Refrain Cadets from Cash Withdraw.