Section 42 in The Karnataka Veterinary, Animal and Fisheries Sciences University Act, 2004
42. Financial Estimates.
(1)The Vice-Chancellor shall cause to be prepared on or before such date as may be prescribed, the financial estimates of the University for the ensuing year and submit the same to the Board for its approval.(2)The Board may approve the financial estimates subject to such modifications as it deems fit and no expenditure shall be incurred except in accordance with the financial estimates as approved by the Board.Provided that the Vice-Chancellor may in case of urgency and for reasons to be recorded in writing incur any expenditure not exceeding rupees ten thousand in any one case for which no provision is made in the budget or which is in excess of the provisions made in the budget without reference to the Finance Committee, but such expenditure shall be reported at the next earliest meeting of the Finance Committee.
