Section 101 in The Maharashtra Universities Act, 1994
101. Annual financial estimates.
(1)The annual financial estimates (budget) of the university for ensuing financial year shall be prepared by the Finance and Accounts Officer under the direction of the Finance and Accounts Committee, at least two months before the commencement of the financial year.(2)The Finance and Accounts Officer shall thereafter forward copies of financial estimates as approved by the Management Council [and Senate] [These words were inserted by Maharashtra 55 of 2000, section 58.] to the Chancellor, Maharashtra State Council for Higher Education and the State Government.(3)The Financial year of the university shall be the same as that of the State Government.
