the orphan's money
should be preserved; it should only be used for the benefit of the orphan person with the permission of the judge in the court. There is no harm if you take from this money to spend on the orphan child.
Zakah should be paid upon the money of the orphan child if it reaches the Nisab (the minimum amount on which Zakah is due) and remains for one year. (Part No. 14; Page No. 250)
it is not permissible to lend anyone money from the orphan's money because this is not in the orphan's best interests.
it is permissible for the guardian of an orphan to invest the orphan's money if he knows that doing so is beneficial for the orphan. It is also permissible for him to give the orphan's money to another person to invest it in return for part of the profits.
it is permissible to beat the orphan for the sake of discipline but without causing him any harm or degrading him. May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.