Section 7 in The West Bengal Universities and Colleges (Administration and Regulation) Act, 2017
7. Funds and accounts of college.
(1)There shall be a fund in every college which shall be credited with all money received from tuition fees and other fees and charges as may be determined by the State Government from time to time.(2)Every college shall maintain proper records of accounts which shall be duly audited internally by a qualified State Government-empanelled Chartered Accountant as defined under section 2 (b) of the Chartered Accountants Act, 1949, in the manner may be prescribed and shall submit such accounts before the State Government annually within six months of the following Financial year.(3)Subject to the provisions of sub-section (2), the State Government shall cause periodic audit of the fund and accounts of every college in such manner as may be prescribed.(4)If any college fails to comply with any of the provisions of this Act, the State Government may take such action as it may deem necessary and lawful.(5)If any college, other than the college run by minorities, fails to comply any of the provisions of this Act, the State Government may, by order, supersede the college authority for a certain period and appoint an Administrator to discharge the functions of the college for such time as may be determined by the state Government.
