Annual audit reports

Environmental198557 sections

Statutory text

(1) The University shall prepare once in every financial year, in such form and at such time as may be directed by the State Government an annual report giving true and full account of its activities during the previous financial year.
(2) The accounts of the University shall be prepared by the Finance Officer under the direction of the Vice-Chancellor and all the money accruing to or received by the University from whatever source and all amounts disbursed and paid by the University shall be entered in the accounts.
(3) The accounts and the balance sheet of the University shall be submitted by the Vice-Chancellor through the Board to the Government which shall cause them to be audited by an agency specifically authorised in this behalf by the State Government from time to time.
(4) The accounts, when audited, shall be printed and copies thereof together with audit report, shall be submitted by the Vice-Chancellor to the Board, which shall forward the said audit report along with the annual report prepared under sub-section (1), immediately after the close of each financial year to the Government with such comments as it may deem fit and the Government shall, as soon as may be, after furnishing of these reports by the University to it, but within a period of nine months after the close of the financial year to which the reports pertain, cause such reports laid before the State Legislative Assembly.

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