Annual Accounts and Financial estimation

(1) The annual accounts of the University shall be prepared under the direction of the executive council and shall be submitted to the State Government for audit. (2) The executive council shall after the accounts are audited, submit a copy thereof along with a copy of the audit report to the Senate and to the State Government. (3) The executive council shall also prepare, before such date as may be prescribed by the Statutes, the financial estimates for the ensuing year. (4) On the annual accounts and financial estimate shall be considered by the Executive Council in the annual meeting and the Executive Council may be passed a resolution in this behalf.