GENERAL PRINCIPLES - Shivaji University

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iv)
Budget Estimates for the current year.
v) Revised Budget Estimates for the current year.
vi)
Budget Estimates for the ensuing year.
2.12 Budget Schedule -
The Finance and Accounts Officer under the direction of Finance and Accounts
Committee shall prepare the draft budget estimates on the basis of the details
furnished by the officers of the University and Heads of Academic Departments
and Auxiliary Services.
i) The skeleton forms of the Budget Estimates shall be prepared by all the
budget controlling officers and shall be submitted to Finance department
before 15 th of October. After the scrutiny of all these demands by subcommittee
of Finance and Accounts Committee the preliminary budget will be
prepared by Finance and Accounts Section up to 15 th December after the
meetings with all Heads of Administrative, Academic and other departments
/ sections.
ii)
iii)
iv)
The draft budget estimates shall be placed before Finance and Accounts
Committee for the recommendation to Management Council before 31st
January.
The draft budget estimates recommended by the Finance and Accounts
Committee shall be placed before Management Council for approval and
recommended to the Senate for the approval before 15th February.
The budget estimates recommended by the Management Council shall be
placed before the meeting of the Senate to be held in March for final approval.
v) A demand for additional funds (Supplementary budget) shall be prepared and
placed for sanction of the Senate in the month of December.
2.13 The following instructions shall be carefully observed in the preparation of
the budget estimates :-
i) The aim shall be to achieve as close an approximation to the actuals as
possible. The provision to be made will depend on the nature of the items of
expenditure.
ii)
As the University accounts are maintained on cash basis, the estimates shall
take into account only such receipts and payments as are expected to be
actually received or made in the budget year. Normally expenditure estimates
shall not exceed more than 10% of the last years’ actuals.
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