'Show me the money', CBSE tells schools

NAGPUR: The closely guarded secret of how much money a CBSE school earns annually is coming soon to a computer screen near you! The central board has now made it mandatory for schools to display annual financial statements on their website. This initiative is part of the accreditation drive initiated by the board.
Schools are required to undergo mandatory accreditation once every three years.The process has started from this year so the maximum any school can delay the display of financial information is for another three years.
The board has evoked provisions of Recognition Norms and Procedure as prepared by the National Council for Teacher Education (NCTE). In fact, the board is asking every school to sign a mandatory disclosure agreement before granting accreditation. Point no. 10 of this agreement asks schools to reveal their annual income and expenditure. On the basis of that, the school's surplus/deficit will be calculated and displayed on the site. Also the school will have to give break down of how it has derived its income (fee, others etc). Fee structure for every class has to be displayed, giving a bifurcation between tuition fee and other charges.