Statutes Chapter 42: Bihar State Universities Statutes

42. Statutes regarding Budget, Accounts and Audit of the University (For Patna University only vide sections 41, 42, 43 and 45 of Patna University Act, 1961)

BUDGET

1. The financial year of the University shall be from April to March.

2. Every college and University Department shall prepare in the prescribed form an estimate of its probable income in including income from endowments and bequests, if any, and expenditure for the next ensuing financial year and shall submit the same to the Syndicate on or before the 31st day of August calendar year.

3. The Syndicate on receipt of the estimates from the college and the University Departments shall forthwith refer the same to the Finance Committee for examination and report. The Finance Committee thereafter shall prepare the annual estimates of income and expenditure of the University for the next ensuing financial year and submit the same to the Syndicate on or before the 31st of December of each calender year.

4. The budget estimates as revised by the Syndicate shall be circulated to the members of the Senate along with the preliminary Agenda for the March meeting of the Senate.

5. Supplementary demands may be presented to the Senate in November, if necessary.

6. The Syndicate shall, after obtaining the advice of the Finance Committee, have the power to reallot and reappropriate any likely savings under any head of the sanctioned budget estimates within the financial year and a detailed report on appropriation so made shall be submitted at the next meeting of the Senate.

7. An emergency fund shall be provided as a head in the budget in which a sum of Rs. 25,000/- shall be provided annually for unforeseen expenditure to be made by the Syndicate on the advice of the Finance Committee,

ACCOUTS

1. A statement of the actual receipts and expenditure of the University during
the preceding financial year, as compared with the budget estimates for that year,

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shall be prepared by the Registrar in the month of July and shall be submitted to the Finance Committee.

2. The Finance Committee, after considering the statement and making any comments on it that it considers necessary, shall forward it to the Syndicate.

3. The statement with the comments, it any, made by the Syndicate, shall be presented by the Syndicate to the Senate at the March meeting which shall consider it as provided in Section 38, of the Patna University Act, 1961.

4. The statement shall be circulated to the members of the Senate along with the Preliminary Agenda for the March meeting of the Senate.

AUDIT

1. The Registrar shall write to the Accountant-General Bihar, not later than the 31st of August every year for the appointment of Auditors to audit the annual accounts of the preceding financial year of the Patna University and all institutions maintained or controlled by it.

2. The Registrar shall furnish all the relevant papers required by the Auditors at the time of audit of accounts.

3. All necessary explanations shall be furnished by the Registrar to the enquiries made and questions put by the Auditors.

Bihar State Universities Statutes

STATUTES CHAPTER 42 ( Statutes regarding Budget, Accounts and Audit of the University (For Patna University only vide sections 41, 42, 43 and 45 of Patna University Act, 1961) )