The amount, sanctioned from the MPLAD fund of Trinamool Congress General Secretary Mukul Roy, was handed to four members of the West Bengal Association of Christian Schools who met the chief minister at the state secretariat.
One of the representatives, A Adhikari told reporters that they they felt a sense of security after Banerjee stood beside them.
Earlier, the Association had submitted a memorandum to the chief minister's office and thanked her for "taking personal interest in the past week, in speaking to our leadership and addressing our concerns."
Earlier, Mukul Roy said the money was given for the renovation of the school on the instruction of the Chief Minister.
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11-year-old Oindrila Das died on September 11 after being locked up in a school toilet by senior students.
The principal was arrested a day later on the charge of negligence in duty. Another 14 were subsequently arrested for vandalising the school.
Governor M K Narayan, commenting on the vandalism in the school, had said on September 14, "I am depressed.