Financial Estimates

(1) The University shall prepare the financial estimates of receipts and expenditure of the University in such manner as may be prescribed by Statutes. (2) The Board shall consider the estimates so prepared and approve them with or without modification. (3) The University shall submit such estimates as approved by the Board to the Government, for its sanction. (4) The Government may pass such orders with reference to the said estimates as it thinks fit and communicate the same to the University which shall give effect to such order. (5) The Board may, in urgent cases where expenditure in excess of the amounts provided for in the budget is found to be necessary, for reasons to be recorded in writing, incur such expenditure.