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| SKUAST-K overlooks University Act, creates un-prescribed funds | | |
Early Times Report
JAMMU, Dec 25:Despite clear directions envisaged in the University Act to get proper approval from University Council regarding any funds management but SKUAST-K created different funds which were not prescribed and their utilization was not shown in University Account.
Sources told Early Times that as per University Act, approval is sought from University Council for management of fund. Moreover three funds were to be created including General fund involving income from fees, endowments and grants and income from properties of University including hostel, experimental stations and farms; contributions and grants made by the Government, other contributions, grants, donations, loans and other receipts and Foundation Fund involving contributions and grants made by the Central and State Government and Pension fund.
"Instead of creating these funds, University created a Common Facilitation Fund and Revolving Fund without authorization of the Board of Management of University Council and without specifying operative limit of these funds resulted in creation of a parallel budget as funds and their utilization remained outside the University accounts under these funds," they said.
They further added Rs 8 Cr was credited during 2011-16 to Common Facilitation Fund of which Rs 4 crore was revenue and remaining amount was diverted from Expenditure Finance Committee Non-Plan and other scheme funds. "Out of this Rs 4 crore was spent during 2011-16 on construction works, purchase of equipment and vehicles, travelling allowances including foreign tours/ trainings, wages, electricity charges, registration/repairing/hiring of vehicle," they added.
While Revolving fund was created during 2011 by transfer of money realised on sale of plants, auction of trees and Rs 7 lakh was spent on payment of wages, purchase of petrol, seeds, they said. |
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