DD has a 'center' for cutting I put in old maps, wrapping paper, coupons I'm not using, foil, straws, cereal boxes, leftover pieces of gift wrap, etc.
She also has a single hole punch and a pinch punch stored in there with her scissors. It's actually one of my favorite school activities for her b/c it's independent. I store it all in a small rubbermaid bin with a lid.