|
1. The institution does not get any financial assistance from the Government in any form. The fee to be received from students and interest to be received on FDR`s are the only source to meet the expenses of institution.
2. The institution does not mobilize the funds by way of donation.
3. The institution prepares the budget for education and general faculties separately to meet the requirements keeping in view proposed fee to be received. The institution meets the deficit under any particular head in case of need by minimizing the budgetary provision under other heads provided the adjustment does not affect smooth running of institution and no hurdle comes in the way of achieving the aim and objectives.
4. As already mentioned above, the main resource to fulfill the mission and other quality programme is only fees. The institution has to make a plan for the opening of the new faculties and also for the strengthing of the faculty of education. In case of requirement of funds particularly for building construction and the purchase of vehicle for staff and generator etc for any proposed new faculty. ,the institution is to approach for the bank finance.
5. The accounts are audited regularly by the external auditor. The institution has also started the system of internal audit. The audit objections are normally rectified immediately or within a reasonable period, Auditors are informed suitably and rectification Certificate is obtained to this effect.
6. Right from the year of establishment of the institution, the arrangement was made with the Accounting Agency in Kanpur city to maintain the accounts and accordingly Cash Book , General Ledger and Balance Sheet are maintained there itself in computer.
7. The staff appointed in the starting was not competent to handle this job ,and therefore, above arrangement was made. Now, certain office work has been computerized in the college itself and by and by, Institution has planned to prepare the accounts in college office itself through computer for which training programme has been proposed for the staff. However some accounts work like faculty wise duly transactions are routed through computer.
|