Section 9 in The National Commission for Minority Educational Institutions (Annual Statement of Accounts) Rules, 2006
9. Government and UGC Grants
9.1Government Grants and UGC grants are accounted on realization basis. However, where a sanction for release of grant pertaining to the financial year is received before 31St March and the grant is actually received in the next financial year, the grant is accounted on accrual basis and an equal amount is shown as recoverable from the Granter.9.2To the extent utilized towards capital expenditure, (on accrual basis) government grants and grants from UGC are transferred to the Capital Fund.9.3Government and UGC grants for meeting Revenue Expenditure (on accrual basis) are treated, to the extent utilized, as income of the year in which they are realized.9.4Unutilized grants (including advances paid out of such grants) are carried forward and exhibited as a liability in the Balance-Sheet.
