B2.3.1

B2.3.1   AdministrationàFinancial ManagementàAccounts management system

Rating
A	Not Demonstrated	No proper accounts management system The accounts are not properly managed, no budget track records, no proper petty cash management system, no auditing done.
B	Developing	Accounts managed manually, the process is not structured Account management done manually, no clear definition and delegation of roles and responsibilities, records not maintained systematically, no auditing. Need for a more structured process with standard procedures, and clearly defined, delegated and monitored responsibilities.
C	Proficient	Accounts manually managed, with standardized procedures and clearly defined, delegated and monitored responsibilities There is a system for account management. Accounting done manually but in a very systematic way with proper risk management. There are standardized procedures and monitored responsibilities, but improvements needed, such as, use of computerized system for accounts management, properly trained staff, and a system to evaluate the effectiveness of the entire process.
D	Accomplished	Technologically sound accounts management system, auditing done, periodic collaborative reviews for continuous improvement There is a computerized system for accounts management, and professionally trained staff for accounting operations. There are proper budget records, petty cash management system, and internal and external auditing to verify the accounts. Periodic internal and external evaluation of the account management system, followed by revisions to ensure effectiveness of the process.
E	Distinguished	Technologically sound, exemplary/demonstrable accounts management system, auditing of desired frequency, commendable transparency and accuracy The account management system is technologically-sound, and ensures complete transparency and accuracy. Internal and external audits are done with desired frequency and the audit reports are available for stakeholders’ reference. Continuous improvement in the process through periodic external and internal evaluation followed by revisions. Successful efforts to showcase the best practices in accounts management to other schools.