Section 37 in Swarnim Gujarat Sports University Act, 2011
37. Accounts, audit and annual report.
(1)The University shall maintain proper accounts and other relevant records and prepare an annual statement of accounts, including the income and expenditure accounts and the balance sheet, in such form and in such manner as may be prescribed.(2)The University shall adopt a proper system of internal checks and balances and control in the discharge of its financial, accounting and auditing functions as may be prescribed.(3)The audit of the accounts of the University shall be carried out by the Examiner, Local Fund Audit under the provisions of the Gujarat Local Fund Audit Act, 1963,(Guj. XLIX of 1963.).(4)The audit report of accounts referred under sub-section (3) shall be placed before the Board and the Board may issue such instructions to the University in respect thereof as it deems fit and the University shall comply with such instructions.(5)The University shall prepare for each year an annual report of its activities of the previous year containing such particulars as the Board may specify and submit the same in the form of annual report to the Board on or before such date as may be prescribed, for review and approval.(6)The copy of the annual report and annual audit report along with the resolution of the Board thereon shall be submitted to the State Government.
